Helmers Corporation manufactures a single product. Variable costing net operating income last year was $101,000 and this year was $121,000. Last year, $37,600 in fixed manufacturing overhead costs were released from inventory under absorption costing. This year, $14,100 in fixed manufacturing overhead costs were deferred in inventory under absorption costing.

What was the absorption costing net operating income last year?

a.$63,400

b.$138,600

c.$106,900

d.$101,000