A company had the following transactions during September, the first month of its operations:

Issued $20,000$ shares of common stock in exchange for $$560,000.$

Purchased equipment for $$280,000,$ using a $$140,000$ cash down payment and signing a note payable for the balance.

Received $$1,400$ from a customer for services to be performed in November.

Made a $$42,000$ payment on the note payable from the purchase of the land.

Total monthly sales: Cash sales $$70,000$ Credit Sales $($Acct$.$ Receivable$)$: $$25,200$

Purchased supplies on credit for $$32,200.$

Collected $$11,200$ from customers on account.

Paid $$3,500$ for September employee wages.

Received a utility bill for $$700$ which will be paid next month.

What is net income for the month of September?

Select one:

a$.$ $$91,000$

b$.$ $$97,300$

C$.$ $$108,500$

d$.$ $$216,300$

e$.$ $$102,200$