The balance sheet of Ipod Corporation on December 31, 2024:

Ipod Corporation BALANCE SHEET AS OF DECEMBER 31, 2024
Assets
Cash	$ 40,000
Accounts and notes receivable	30,000
Inventory	90,000
	$160,000
Liabilities and Capital
Accounts and notes payable	$ 20,000
Common stock	100,000
Retained earnings	40,000
	$160,000

These errors were made by Ipod on December 31, 2023 and were not corrected: Ending inventory understated $2,400 and prepaid expense of $1,000 omitted. On December 31, 2024, unearned revenue of $1,100 was omitted, and accrued revenue of $1,400 was omitted.

The net income shown by the books for 2024 was $13,200.

The correct 2024 Net Income is:

Select one:

a. $7,300

b. $12,300

c. $12,100

d. $14,900

e. $10,100