Exhibit 2-1 Total Assets Total Liabilities

Multiple Choice

Exhibit 2-1
Total Assets Total Liabilities
Beginning of the year $300,000 $130,000
End of the year $800,000 $550,000
-Refer to Exhibit 2-1.Determine the net income (or loss) ,assuming no stock was issued and no dividends were paid?

A) $420,000
B) $250,000
C) $80,000
D) $170,000