Putney Company reports the following information:
Sales: $76,500
Cost of direct materials used in production: $7,300
Depreciation on factory equipment: $4,700
Indirect labor: $5,900
Direct labor: $10,500
Factory rent: $4,200
Factory utilities: $1,200
Sales salaries expense: $15,600
Office salaries expense: $8,900
Indirect materials: $1,200
What is the net income?
a) $17,000
b) $17,200
c) $17,400
d) $17,600
