Company ABC has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales = $64 million, total debt = $24 million, debt to asset ratio = 46%, ROE = 12.4%. Based on this information, what is the firms net income?

A.

$1,987,205

B.

$2,580,723

C.

$3,493,565

D.

$2,508,908