The following are the operational transactions related to Melody's Piano School for the month of May: . . Provided $1,150 of piano lessons to students who paid in cash. Provided $900 of piano lessons on account. Collected $675 from students who took piano lessons during April. Paid April's piano rental bill of $500. Received May's piano rental bill of $550 and set it aside for payment in June. . Assuming the company uses accrual basis accounting, what is net income for May? Multiple Choice O $675 O $1,500 $2,075 O $1,325