The Transactions Carried Out by Blue Waters Corporation During the Year

Multiple Choice

The transactions carried out by Blue Waters Corporation during the year caused an increase in total assets of $25,650 and a decrease in total liabilities of $12,250. If no additional stock was issued during the year and dividends of $7,850 were paid, what was the net income for the year?

A) $53,600
B) $45,750
C) $29,100
D) $13,400