A	B
1	Net Income Model
2
3	Data
4
5	Sales	$ 10,000,000
6	Cost of Goods Sold	$ 6,400,000
7	Administrative Expenses	$ 500,000
8	Selling Expenses	$ 900,000
9	Depreciation Expenses	$ 750,000
10	Interest Expenses	$ 70,000
11	Taxes	$ 620,000
12
13	Model
14
15	Gross Profit	$ 3,600,000
16	Operating Expenses	$ 2,150,000
17	Net Operating Income	$ 1,450,000
18	Earnings Before Taxes	$ 1,380,000
19
20	Net Income

Which of the following formulas would be used to calculate the net income value using only the information in the Model, and not in the Data section?

A. =B18-B11
B. =B15-B16-B17+B18
C. =B6-B15
D. =B5-B17