Chocolate Heaven, Inc

Multiple Choice

Chocolate Heaven, Inc. had a balance of $200 000 in shareholders' equity at the end of last year (i.e. 31 December) . During this year, the company recorded a net profit of $50 000, distributed dividends of $30 000, and borrowed $10 000. What was the company's shareholders' equity at the end of this year as at 31 December?

A) $200 000
B) $210 000
C) $220 000
D) $230 000