Nixon Corporation was started on January 1, 2014. The company entered into the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,500 of capital from the owners. 2) Purchased $350 of direct raw materials. 3) Used $250 of these direct raw materials in the production process. 4) Paid production workers $450 cash. 5) Paid $250 for manufacturing overhead (applied and actual overhead are the same). 6) Started and completed 200 units of inventory. 7) Sold 100 units at a price of $6 each. 8) Paid $90 for selling and administrative expenses. The amount of net income for 2014 was: