Simon Company had the following summarized operations for the month of May: cash sales, $32,000; sales on account, $18,000; expenses paid in cash, $5,000; expenses incurred on credit, $10,000. In addition, the company purchased equipment for $8,000 on account and supplies for $5,000 cash. The net income for the month of May is

a. 27,000

b. 14,000

.c. 45,000

d. 35,000