what is the net income that will be reported for year 1?

Nelson Company experienced the following transactions during Year 1, its first year in operation Issued $8,000 of common stock to stockholders Provided $4,300 of services on account Paid $2,100 cash for operating expenses Collected $2,900 of cash from accounts receivable Paid a $200 cash dividend to stockholders What is the net income that will be reported for Year 12 Multiple Choice $1,400 $1,600 52.200 52.000