The below table contains financial information for H & H Co. before closing entries:

Cash	$32,020
Prepaid Insurance	$7500
Land	$85,000
Equipment	$25,000
Accumulated Depreciation	$8600
Accounts Payable	$32,800
Service Revenue	$96,000
Advertising Revenue	$2025
Depreciation Expense	$5600
Salary Expense	$4500
Utilities Expense	$150
Common Stock	$30,000

What is H & H's net income?

Question 2 options:

a)

$45,725

b)

$87,775

c)

$80,725

d)

$53,725