The following information relates to Newman and Foster, Inc. Sales Revenue $240,000 Cost of Goods Sold 170,000 Interest Revenue 11,000 Operating Expenses 40,000 Sales Discounts 18,000 Sales Returns and Allowances 7,000 Calculate the net income of Newman and Foster. A. $240,000 B. $59,000 O C. $5,000 O D. $16,000