A: $29,495

B: $29,600

C: $30,020

D: $31,995

Nutter Company reported the following information on its financial statements. Assume the tax rate is 21%. What is Nutter's net income? Sales $62,000 Cost of goods sold ($12,000) Gross profit $50,000 Salaries ($6,000) Penalties ($500) Advertising ($1,500) Business meals with clients ($4,000) Federal income tax ? Net income