On January 1, 2018, Cat Power Company Reported Stockholders' Equity

Multiple Choice

On January 1, 2018, Cat Power Company reported stockholders' equity of $705,000. During the year, the company paid dividends of $30,000. At December 31, 2018, the amount of stockholders' equity was $825,000. What amount of net income or net loss would the company report for 2015?

A) Net loss of $30,000
B) Net income of $90,000
C) Net income of $120,000
D) Net income of $150,000