These Balances Were Taken from the Accounts of P Enterprises

Multiple Choice

These balances were taken from the accounts of P Enterprises $$\begin{array} { l r r } & 31 \text { Dec } 2010 & 31 \text { Dec } 2011 \\\text { Assets } & \$ 220,000 & \$ 460,000 \\\text { Liabilities } & 100,000 & 130,000\end{array}$$ Assuming there were no drawings or contributions of capital,profit for 2011 must have been:

A) $240 000
B) $120 000
C) $330 000
D) $210 000