1. Stern Company reports the following selected account balances for 2008: Accounts receivable Administrative expenses Cost of sales Dividends Income tax expense $ 14,000 Interest income 37,000 Interest expense 415,000 Merchandise inventory 2,200 Sales 64,000 Selling expenses $ 7,000 35,000 50,000 852,000 96,000 What is Stern's 2008 net income? a $209,800 b. $223,800 c. $212,000 d $226,000