Business, 16.12.2019 20:31 DCURLS3518

The changes in account balances for elder company for 2018 are as follows: assets $ 680,000 debit common stock 350,000 credit liabilities 190,000 credit paid-in capital—excess of par 30,000 credit assuming the only changes in retained earnings in 2018 were for net income and a $50,000 dividend, what was net income for 2018?

(a) $140,000.
(b) $150,000.
(c) $160,000.
(d) $170,000.

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