Presented below is selected information pertaining to the Cone Company: Cash balance, January 1, 2021 - 13,000 Accounts receivable, January 1, 2021- 19,000

Collections from customers in 2021- 210,000 Capital account balance, January 1, 2021- 38,000 Total assets, January 1, 2021- 75,000 Cash investment added, July 1, 2021- 5,000 Total asset, December 31, 2021- 101,000 Cash balance, December 31, 2021- 20,000 Accounts receivable, December 31, 2021- 36,000 Merchandise taken for personal use during 2021- 11,000 Total liabilities, December 31, 2021- P41,000 How much is the net income for 2021?

a. 22,000

b. 30,000

c. 28,000

d. 26,000