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Inverness Farms, Ltd., 2020 Income Statement ($ in millions) Amount Revenues $975,000 Cost of Goods...

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Inverness Farms, Ltd., 2020 Income Statement ($ in millions) Amount Revenues $975,000 Cost of Goods Sold $400,000 Selling & Admin Expenses $70,000 Depreciation expense $185,000 Interest Expense $75,000 Applicable income tax rate 20% What is the amount of net income for this firm? Select one: O a. $136,250 O b. $165,000 O c. $196,000 O d. $220,000 O e. $108,750

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