The following is the Statement of Income and Expenses of Corporacin Luna for the year ended December 31, 2020: LUNA CORPORATION Statement of Income and Expenses For the year ended December 31, 2020 INCOME Base Books Sales $ 850,000 (400,000) 450,000 10,000 Cost of goods sold Gross margin Interest income - Bonds Corporacin Venta Plus Interest Income - Savings Certificate Interest Income - New York City Bonds 1,000 20,000 Total income 481,000 EXPENSES Salaries - General 2 100,000 EXPENSES Salaries - General N 100,000 3 20,000 Salaries - University Youth Professional services 2. Food and entertainment 70,000 10,000 5,000 20,000 4. Trip Mortgage loan interest Automobile depreciation Other administrative expenses Income tax expense Total expenditures 10,000 200,000 8,280 443,280 Net income $ 37,720 NOTES: 1. Venta Plus Corporation is a private corporation. 2. The corporation submitted to the Department of the Treasury all informative returns that support the salaries and professional services paid during the taxable year. NOTES: 1. Venta Plus Corporation is a private corporation. 2. The corporation submitted to the Department of the Treasury all informative returns that support the salaries and professional services paid during the taxable year. 3. The salaries paid in this line meet the requirements established by law so that the corporation can claim the special deduction of "salaries paid to university youths". 4. This expense presents the depreciation of a single company car, acquired on January 2, 2018, whose cost was $ 50,000 and its depreciation is calculated using a straight line over a useful life of five (5) years. SPECIAL NOTE: Look for the Instructions Booklet for the Corporate Income Tax Return and study how current depreciation is calculated for an automobile, for tax purposes. Determine the Total Expenses , TAX BASE, after applying the rules for converting books to taxes. NOTE: Only analyze the items that are under the EXPENSES Section. Determine the Total Expenses , TAX BASE, after applying the rules for converting books to taxes. NOTE: Only analyze the items that are under the EXPENSES Section. Select one: O a. $443,280 o b. $441,000 O c. $431,000 O d. $435,000