Before making month-end adjustments, net income of Cardinal Company was $116,000 for March. Adjusting entries are necessary for the following items: -Depreciation for the month of March: $2,300. -Rental income accrued during March, tenant to pay in April: $800. -Supplies used in March: $100. -Fees earned in March that had been collected in advance: $2,600. After recording these adjustments, net income for March is:

$112,400.

$113,620.

$117,000.

$110,800.