During the current year, Pierce Company's total assets increased $25,000, and total liabilities decreased $15,000. During the same year, the company's investors invested an additional $30,000 and the company paid dividends of $15,000.
What must have been the company's net income for year?
A) $25,000
B) $15,000
C) $20,000
D) $10,000

Question

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The Answer of During the current year, Pierce Company's total assets increased $25,000, and total liabilities decreased $15,000. During the same year, the company's investors invested an additional $30,000 and the company paid dividends of $15,000.
What must have been the company's net income for year?
A) $25,000
B) $15,000
C) $20,000
D) $10,000

During the Current Year, Pierce Company's Total Assets Increased $25,000