Norris Company experienced the following transactions during 2011, its first year in operation. 1. Issued $6,000 of common stock to stockholders. 2. Provided $2,400 of services on account. 3. Paid $1,600 cash for operating expenses. 4. Collected $1,800 of cash from accounts receivable. 5. Paid a $100 cash dividend to stockholders. The amount of net income recognized on Norris Company's 2011 income statement is: a. $500 b. $400 c. $800 d. $600 Next