The following are the operational transactions related to Melody's Piano School for the month of May: Provided $500 of piano lessons to students who paid in cash. Provided $380 of piano lessons on account. Collected $285 from students who took piano lessons during April. Paid April's piano.rental bill of $175. Received May's piano rental bill of $225 and set it aside for payment in June. Assuming that the company uses cash basis accounting, what is net income for May?