The following are the operational transactions related to Melody's Piano School for the month of May: - Provided $700 of piano lessons to students who paid in cash. - Provided $540 of piano lessons on account. - Collected $405 from students who took piano lessons during April. - Paid April's piano rental bill of $275. - Received May's piano rental bill of $325 and set it aside for payment in June. Assuming that the company uses cash basis accounting, what is net income for May