Slow, Inc, Reported the Following Asset and Liability Balances at the the Ends

Multiple Choice

Slow, Inc., reported the following asset and liability balances at the ends of 20X1 and 20X2: $$\begin{array} { | l | r | r | } \hline & \underline { \mathbf { 2 0 X1 } } & \underline { \mathbf { 2 0 X 2 } } \\\hline \text { Total Assets } & \$ 80,000 & \$ 110,000 \\\hline \text { Total Liabilities } & 50,000 & 40,000 \\\hline \text { Cash } & 22,000 & 32,000 \\\hline\end{array}$$ During 20X2, cash dividends of $5,000 were declared and paid. Additional shares were issued for $15,000. What was the profit (or loss) for 20X2?

A) $30,000
B) $35,000
C) $40,000
D) $45,000