Sam Runs a Proprietorship That Generated $75,000 in Profits in 20X0

Sam runs a proprietorship that generated $75,000 in profits in 20X0. Included in these profits are: a) $10,000 of amortization expense; b) $5,000 bad debt expense; c) $55,000 cost of goods sold; and $8,000 meals and entertainment with clients. Sam's capital cost allowance has been accurately calculated at $8,500 for the year. How much is Sam's business net income for tax purposes?

A) $75,000
B) $80,500
C) $73,500
D) $89,000