Required information The following information applies to the questions displayed below) The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: $1, 600 2, 475 2, 300 1,300 Cash Dividends Land Accounts payable Retained earnings $4,000 Accounts receivable 2,000 Common stock 2,300 Revenue 1,200 Expense 5,225 Vhat is the amount of net income that will be reported on the Year 1 income statement? $2,300 $800 $1,000 $1,300