Ortiz Co. had the following account balances:

Sales revenue$440,000

Cost of goods sold220,000

Salaries and wages expense30,000

Depreciation expense60,000

Dividend revenue12,000

Utilities expense24,000

Rent revenue60,000

Interest expense36,000

Sales returns and allow.33,000

Advertising expense39,000

What would Ortiz report as total expenses in a single-step income statement?

$421,000

$442,000

$409,000

$189,000