Yowell Company Began Operations on January 1, Year 1

Multiple Choice

Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions:
1) issued stock for $76,0002) borrowed $43,000 from its bank3) provided consulting services for $75,000 cash4) paid back $33,000 of the bank loan5) paid rent expense for $18,0006) purchased equipment for $30,000 cash7) paid $4,800 dividends to stockholders8) paid employees' salaries of $39,000
What is Yowell's net income for Year 1?

A) $57,000
B) $18,000
C) $13,200
D) $34,200