[The Following Information Applies to the Questions Displayed Below

Multiple Choice

[The following information applies to the questions displayed below.]
Waldorf Co.had the following transactions during the month of October 2018:
(1) Cash received from bank loans was $60,000.
(2) Dividends of $18,500 were paid to stockholders in cash.
(3) Revenues earned and received in cash amounted to $100,500.
(4) Expenses incurred and paid were $78,000.
-What amount of net income will be reported on an income statement for the month of October?

A) $ 18,500.
B) $ 22,500.
C) $ 78,000.
D) $100,500.