On November 1, 2021, Cathy Company borrowed $50,000 cash and signed a five-month note payable with an interest rate of 3%. The principal and interest are payable at maturity. Interest expense relating to this borrowing for the year ending December 31, 2021, is? $600 $300 $125 $250 O $375 Cathy Company reported net income of $177,000 for the month of March before making month-end adjustments. Adjustments are necessary for the following items: • Revenue earned in March, but not yet billed to customers: $4,200 . Portion of prepaid rent applicable to March: $3,150 Depreciation for March: $2,160. After recording these adjustments, net income for March is: O $177,000 $178,050 O $175,890 O $171,690 O $181,200