Mountain View's activities for the year included the following:

Gross Sales	1,500,000
Cost of goods sold	360,000
Selling and administrative expenses	120,000
Unrealized loss on derivative hedging transaction	10,000
Allowance for doubtful accounts	17,000
Prepaid insurance expense	37,000
Foreign currency translation gain	96,000
Loss on sale of equity securities	55,000
Unrealized loss on equity securities	38,000

The company has a 30% effective income tax rate.

What is the company's net income for the year?

• A.

  $681,100

• B.

  $620,900

• C.

  $648,900

• D.

  $647,500