A Company Had the Following Assets and Liabilities at the Beginning

Multiple Choice

A company had the following assets and liabilities at the beginning and end of the current year: $\begin{array}{lrr} & \text { Assets } & \text { Liabilities } \\\text { Beginning of year } & \$ 428,000 & \$ 176,000 \\\text { End of the year } & 490,000 & 150,000\end{array}$ Common stock in the amount of $30,000 was issued and dividends of $10,000 were paid during the year.What is the amount of net income for the year?

A) $88,000.
B) $68,000.
C) $48,000.
D) $108,000.