Question - Nelson Company experienced the following transactions during 2016, its first year in operation.
1. Issued $12,000 of common stock to stockholders.
2. Provided $4,600 of services on account.
3. Paid $3,200 cash for operating expenses.
4. Collected $3,800 of cash from accounts receivable.
5. Paid a $200 cash dividend to stockholders.
The amount of net income recognized on Nelson Company's 2016 income statement is?