Panamerican Foods reported the following account balances on the companys adjusted trial balance. Accounts Payable $ 6,000 Accounts Receivable 25,000 Inventory 22,800 Advertising Expense 19,000 Cost of Goods Sold 145,000 Delivery Expense 7,400 Income Tax Expense 2,000 Insurance Expense 1,000 Rent Expense 17,600 Sales Revenue 300,000 Sales Discounts 9,600 Sales Returns & Allowances 40,000 Net income would be:

• $100,000.

• $105,400.

• $98,000.

• $134,200.

• None of the other answers are correct.