Beginning Assets Were $437,600,beginning Liabilities Were $262,560,common Stock Issued During

Multiple Choice

Beginning assets were $437,600,beginning liabilities were $262,560,common stock issued during the year totaled $45,000,revenue for the year was $414,250,expenses for the year were $280,000,dividends declared were $22,700,and ending liabilities were $350,000. What was net income for the year?

A) $700,160
B) $331,590
C) $134,250
D) $612,560
E) $175,040