In 2014, Draper Company discovered errors made in 2011-2013, its first three years of operation. Restated 2013 Net Income will be:

Select one:

a. $22,800

b. $23,350

c. $22,350

d. $23,150

e. $23,550

Items not recognized Prepaid expenses Accrued expenses Other information Reported net inco Dividends declared and paid Common stock and additional paid in capital at 12/31 2012 2011 2013 $1,300 $900 $550 700 800 950 $23,000 $25,000 $20,000 4,100 2,600 5,000 22.000 17,000 15,000