Fat Possum's Service Shop Started the Year with Total Assets

Multiple Choice

Fat Possum's Service Shop started the year with total assets of $330,000 and total liabilities of $2400,000. During the year, the business recorded $630,000 in revenues, $420,000 in expenses, and paid dividends of $60,000. The net income reported by Fat Possum's Service Shop for the year was

A) $150,000.
B) $210,000.
C) $240,000.
D) $270,000.