Nelson Company experienced the following transactions during Year 1, its first year in operation.Acquired $7,400 cash by issuing common stock.Provided $3,700 of services on account.Paid $1,950 cash for operating expenses.Collected $2,600 of cash from customers in partial settlement of its accounts receivable.Paid a $170 cash dividend to stockholders.What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows?
A)$1,750
B)$340
C)$1,580
D)$650

Question

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The Answer of Nelson Company experienced the following transactions during Year 1, its first year in operation.Acquired $7,400 cash by issuing common stock.Provided $3,700 of services on account.Paid $1,950 cash for operating expenses.Collected $2,600 of cash from customers in partial settlement of its accounts receivable.Paid a $170 cash dividend to stockholders.What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows?
A)$1,750
B)$340
C)$1,580
D)$650

Nelson Company Experienced the Following Transactions During Year 1, Its