Eli's Electronic Repair Shop Started the Year with Total Assets

Multiple Choice

Eli's Electronic Repair Shop started the year with total assets of $300000 and total liabilities of $200000. During the year the business recorded $400000 in electronic repair revenues $300000 in expenses and Eli withdrew $50000. The net income reported by Eli's Electronic Repair Shop for the year was

A) $100000.
B) $150000.
C) $250000.
D) $300000.