Calculating Net Income from Delta Electronics' Income Statement

Your analysis of the income statement of Delta Electronics reveals the following items for the financial year ending December 31, 2022:

• Sales Revenue: $750,000
• Cost of Goods Sold: $450,000
• Selling and Administrative Expenses: $150,000
• Interest Expense: $30,000
• Income Tax Expense: $40,000

Using this information, calculate the correct value of Delta Electronics' net income.