Pharoah's Computer Repair Shop started the year with total assets of $308,000 and total liabilities of $212,000. During the year, the business recorded $511,000 in computer repair revenues, $312,000 in expenses, and Pharoah paid dividends of $50,400. The net income reported by Pharoah's Computer Repair Shop for the year was:

(a) $146,400

(b) $96,000

(c) $199,000

(d) $270,600