The Following Financial Information Was Summarized from the Accounting Records

Multiple Choice

The following financial information was summarized from the accounting records of Globe Corporation for the current year ended December 31: $$\begin{array} { l r r r } & \text { Northern } & \text { Southern } & \text { Corporate } \\& \text { Division } & \text { Division } & \text { Total } \\\text { Cost of goods sold } & \$ 310,000 & \$ 175,000 & \\\text { Direct operating expenses } & 250,000 & 115,000 & \\\text { Net sales } & 600,000 & 410,000 & \\\text { Interest expense } & & & \$ 12,000 \\\text { General overhead } & && 101,000 \\\text { Income tax } & && 26,700\end{array}$$ ? The net income for Globe Corporation is:

A) $59,000.
B) $160,000.
C) $19,400.
D) $47,000.