18 Selling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; research and development expenses were $34,000; Net cash provided by operating activities was $42,000; income tax expense was $10,000; cost of goods sold was $220,000. net income for the period was: A. $30,000 B. $40,000 C. $56,000 D. $72,000