Ashley's Accessory Shop Started the Year with Total Assets of $140,000

Multiple Choice

Ashley's Accessory Shop started the year with total assets of $140,000 and total liabilities of $80,000. During the year the business recorded $220,000 in revenues, $110,000 in expenses, and dividends of $40,000. Stockholders' equity at the end of the year was

A) $120,000.
B) $110,000.
C) $130,000.
D) $70,000.