Accounts Payable Accounts Receivable Inventory Advertising Expense Cost of Goods Sold Delivery Expense Income Tax Expense Insurance Expense $8,000 27,000 23,200 20,000 153,000 7,600 4,000 1,000 Rent Expense 18,400 Sales Revenue 320,000 Sales Discounts 9,400 Sales Returns & Allowances 43,000 Net income would be: Multiple Choice $77,600. $66,600. $67,600