| Salvadore Inc., a local retailer, has provided the following data for the month of September: |
| Merchandise inventory, beginning balance | $ 46,800 |
| Merchandise inventory, ending balance | $ 45,000 |
| Sales | $265,200 |
| Purchases of merchandise inventory | $133,100 |
| Selling expense | $ 24,900 |
| Administrative expense | $ 54,700 |
| The net operating income for September was: |
| $50,700 | |
| $46,900 | |
| $133,100 | |
| $132,100 |