BobCat company originated in December 2017. BobCat follows accrual accounting principles. The following transactions happened during the year: December 2: Performed services on account for $45,000. December 15: Collected $32,400 of the accounts receivable. December 31: Paid the utility expense of $1,200. Recorded $8,800 of accrued salaries at the end of the year. What is net income?

• A. 45,000

• B. 35,000

• C. 22,400

• D. 32,400