Janex Inc. has accounting income in the current taxation year of $10,920. Included in this amount are the following income and expense amounts:

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Sales Revenue $ 235,500

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Cost of Goods Sold

(125,600)

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Salaries and wage expense

( 75,000)

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Promotion expense

( 15,200)

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Depreciation expense

( 12,500)

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Income tax expense

( 1,930)

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Dividend income

5,650

All expenses are considered reasonable and are related to Janex Inc.'s business operations. The promotion expense includes charitable donations of $5,200 and business meals and entertainment expenses of $10,000. Depreciation expense relates to capital assets used in the business, calculated using the straight-line basis for accounting purposes. For tax purposes, maximum capital cost allowance has been calculated correctly as $8,500. The dividend income represents dividends received from taxable Canadian corporations.

Based on this information, which of the following items correctly lists net income for tax purposes and taxable income for Janex Inc.?

A.

$27,050 and $16,200

B.

$30,350 and $19,500

C.

$21,850 and $16,200

D.

$16,200 and $11,000