Case Study In year 2019, BBA Limited ("BBA") earned sales revenue of $800,000 from cash sales. Also, BBA incurred and paid for the following expenses: (i) advertising expense $50,000; (ii) cost of goods sold $500,000; (iii) office rent expense $30,000 (half for sales staff & half for administrative staff). In addition, a tax expense shall be accrued at a tax rate of 20%. Question How much "net income" shall be reported in the Statement of Profit or Loss for BBA for year 2019? Select one: O A. $220,000 O B. $176,000 OC. $500,000 OD. $198,000