Using the data below from Southwood Corporation, compute NET INCOME.

Accounts Payable	$70
Cost of Services	130
Cash	30
Capital Stock	220
Dividends	70
Equipment	810
Accounts Receivable	250
Long-term Debt	450
Prepaid Insurance Expense	20
Rent Expense	90
Retained Earnings (beginning)	310
Service Revenue	650
Advertising Expense	120

Group of answer choices

$240

$220

$310

$290

$420