Can you please explain the reasoning behind this answer?

Correct Marks for this submission: 10.00/10.00. Question 10 Correct Mark 10.00 out of 10.00 Question text During 2016, Banigo Corporation experienced an increase in total assets of $72,600 and an increase in total liabilities of $40,900. Assuming that capital stock increased by $5,000 and no dividends were paid, calculate Banigo's net income or net loss for 2016. Select one: a. Net income of $67,600 b. Net loss of $45,900 C C. Net loss of $31,700 d. Net income of $26,700