A company reported the following:

Cost of Goods Sold	$	234,000
General, Selling, and Administrative Expenses		10,000
Income Tax Expense		8,600
Inventory		25,500
Net Income		119,900
Sales Revenue		380,000
Sales Discounts		4,600
Sales Returns & Allowances		2,900

What is the amount of income before income taxes?

Multiple Choice

a. $128,500

b. $119,900

c. $111,300

d. $146,000