During the first year of operation 2021, ACCT301A Corporation, a wholesale business, had the following information available related to its income statement:

Sales Revenue 1,000,000

Cost of Goods Sold 645,000

Selling Expenses 90,000

General Administrative Expenses 85,000

Gain on Sale of Plant 5,000

Loss on Sales of Bonds 1,000

Interest Income 3,000

Interest Expense 5,000

Dividend Declared 45,000

Income Tax Rate 25%

How much is the net income?

A. $136,500

B. $141,000

C. $135,000

D. $130,500