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 $50,000 of stock was issued and $40,000 of dividends were paid?

A) $70,000
B) $210,000
C) $260,000
D) $10,000