Norris Company experienced the following transactions during 2013, its first year in operation.

1. Issued $8,400 of common stock to stockholders.

2. Provided $4,700 of services on account.

3. Paid $2,200 cash for operating expenses.

4. Collected $3,100 of cash from accounts receivable.

5. Paid a $220 cash dividend to stockholders.

The amount of net income recognized on Norris Company's 2013 income statement is:

Multiple Choice

$1,820.

$2,500.

$2,280.

$1,600.

Norris Company experienced the following transactions during 2013, its first year in operation. 1. Issued $8,400 of common stock to stockholders. 2. Provided $4,700 of services on account. 3. Paid $2,200 cash for operating expenses. 4. Collected $3,100 of cash from accounts receivable 5. Paid a $220 cash dividend to stockholders. The amount of net income recognized on Norris Company's 2013 income statement is