In November and December $2025,$ Waterway Co$.,$ a newly organized magazine publisher, received $$72300$ for $1,000$ three$-$year

subscriptions at $$24\mathrm{.}10$ per year, starting with the January $2026$ issue. Waterway included the entire $$72300$ in its $2025$ income tax

return. What amount should Waterway report in its $2025$ income statement for subscriptions revenue?

$$72300$

$$0$

$$4016$

$$24100$