The Balance of Stockholders' Equity at the Beginning of the Year

Multiple Choice

The balance of stockholders' equity at the beginning of the year and the end of the year was $50,000 and $60,000, respectively. The company issued no common stock during the year. Dividends were $24,000. What was the net income or loss for the year?

A) Net income of $84,000
B) Net loss of $84,000
C) Net loss of $34,000
D) Net income of $34,000