Aaron Corporation is a merchandising company. Selected account balances are listed below:

Sales	$250,000
Purchases	112,500
Beginning Inventory	8,000
Ending Inventory	15,000
Operating Expenses	74,000
Income Tax Expense	5,000
Beginning Retained Earnings	26,500
Dividends	7,500

Refer to the information provided for Aaron Corporation. Calculate net income.

a. $65,500

b. $58,000

c. $70,500

d. $144,500