A Company Reported the Following Asset and Liability Balances at the End

question 77

Multiple Choice

A company reported the following asset and liability balances at the end of 2013 and 2014: $$\begin{array} { l r r } & \underline { 2013 } & \underline { 2014 } \\\text { Assets } & \$ 150,000 & \$ 180,000 \\\text { Liabilities } & \$ 70,000 & \$ 80,000\end{array}$$ If the company paid dividends totaling $5,000, what is the amount of net income for 2014?

• A) $20,000.
• B) $105,000.
• C)$80,000.
• D)$25,000.

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