Iras Insurance Agency prepares monthly financial statements. Presented below is an income statement for the month of June. IRA'S INSURANCE AGENCY Income Statement For the Month Ended June 30 Revenues Revenue $40,000 Expenses Salaries and Wages Expense $12,000 Advertising Expense. 800 Rent Expense 4,200 Depreciation Expense 2.800 Total Expenses. 19.800 Net Income $20.200 When the income statement was prepared the company accountant neglected to take into consideration the following information: 1. The agency purchased a new car at the beginning of the month for $24,000 cash. The car will depreciate $6,000 per year. 2. Salaries owed to employees at the end of the month total $5,300. The salaries will be paid on July 5. 3. A one year auto insurance policy was sold on June 1 for $2,400. The correct net income for the month of June is: O A. $9,100 B. $14,600 O C.$17,000 D. $14,400