In November and December 2022, Mukul Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2023 issue. Mukul included the entire $90,000 in its 2022 income tax return. Mukul's fiscal year ends on December 31. What amount should Mukul report in its 2022 income statement for subscription revenue?

Question 11 options:

	$30
	$5
	$0.
	$90