At the Beginning of Year 2, X Company Had Assets

Multiple Choice

At the beginning of Year 2, X Company had assets of $300, liabilities of $150, and common stock of $50. During Year 2, the company earned revenue of $500, incurred expenses of $200, and paid dividends of $50. All transactions were cash transactionsThe amount of total assets reported on X Company's December 31, Year 2 balance sheet would be

A) $550
B) $250
C) $300
D) None of these answers are correct.