A company reported the following: General, Selling, and Administrative Expenses Cost of Goods Sold Income Tax Expense Inventory Net Income. 48 $203,800 53,180 3,980 29,500 26,740 293,500 3,100 Sales Revenue Sales Discounts Sales Returns & Allowances What is the amount of income before income taxes? 2,700 Multiple Choice $116,000 $80,600 $30,720 $71,000