Ashley's Accessory Shop started the year with total assets of $140,000 and total liabilities of $80,000. During the year the business recorded $220,000 in revenues, $110,000 in expenses, and dividends of $40,000. The net income reported by Ashley's Accessory Shop for the year was
A) $80,000.
B) $100,000.
C) $130,000.
D) $110,000.

Question

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The Answer of Ashley's Accessory Shop started the year with total assets of $140,000 and total liabilities of $80,000. During the year the business recorded $220,000 in revenues, $110,000 in expenses, and dividends of $40,000. The net income reported by Ashley's Accessory Shop for the year was
A) $80,000.
B) $100,000.
C) $130,000.
D) $110,000.

Ashley's Accessory Shop Started the Year with Total Assets of $140,000