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

Multiple Choice

A company reported the following asset and liability balances at the end of 2013 and 2014: $$\begin{array} { l r r } & \underline { 2013 } & \underline { 2014 } \\\text { Total Assets } & \$ 6,800,000 & \$ 7,600,000 \\\text { Total Liabilities } & 3,200,000 & 3,600,000\end{array}$$ During 2014, cash dividends of $50,000 were declared and paid, and common stock was issued for $100,000. How much was the 2014 net income?

A) $400,000.
B) $480,000.
C) $350,000.
D) $300,000.