The Grinch Company Has Gathered the Following Information for the Year

Multiple Choice

The Grinch Company has gathered the following information for the year ended December 31, 20X0: $\begin{array}{ll}\text { Sales } & \$ 75,000 \\\text { Direct materials used } & 12,900 \\\text { Direct labor } & 5,200 \\\text { Fixed: } & \\\text { Factory overhead } & 6,400 \\\text { Selling expenses } & 2,300 \\\text { Administrative expenses } & 1,700\end{array}$ $$\begin{array}{l}\text { Variable: }\\\begin{array} { l l } \text { Factory overhead } & 3,300 \\\text { Selling expenses } & 5,700 \\\text { Administrative expenses } & 8,300\end{array}\end{array}$$ There were no beginning or ending inventories. Net income is:

A) $48,900
B) $39,600
C) $56,900
D) $29,200