Colby Corporation Has Provided the Following Information: Operating Revenues Were

Multiple Choice

Colby Corporation has provided the following information: Operating revenues were $199,700.
Operating expenses were $111,000.
Interest expense was $9,200.
Gain from sale of plant and equipment was $3,300.
Dividend payments to Colby's stockholders were $7,700.
Income tax expense was $36,000.
Prepaid rent expense was $5,000.
How much was Colby's net income?

A) $39,100.
B) $48,300.
C) $52,700.
D) $46,800.