The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable $ 2,800 Accounts receivable 1,400 Common stock 1,700 Revenue 900 Expense $ 1,300 1,875 1,700 1,000 What is net income that will be shown on Carolina's Year 1 income statement? Multiple Choice 0 $1,700 $500