Tim Walters, an attorney, had a law corporation, Tim Walters, Attorney, Inc., that began the year with total assets of \($110,000,\) total liabilities of \($80,000,\) and stockholders’ equity of \($30,000.\) During the year, Tim Walters, Attorney, Inc., earned revenue of \($90,000\) and paid expenses of \($40,000.\) Tim Walters, Attorney, Inc., also sold an additional \($10,000\) of stock and paid \($20,000\) in dividends. How much is the stockholders’ equity in Tim Walters, Attorney, Inc., at year-end?

a. ($70,000

b. $110,000\)

C. ($130,000

d. $160,000