Timmer Corporation just started business in January. There were no beginning inventories. During the year, it manufactured 12,000 units of product and sold 9,700 units. The selling price of each unit was $25. Variable manufacturing costs were $3 per unit, and variable selling and administrative costs were $3 per unit. Fixed manufacturing costs were $36,000 and fixed selling and administrative costs were $8,700. What would Timmer's net income be for the year using variable costing?

a.$184,300

b.$139,600

c.$111,680

d.$148,300