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18. Gatto Production Services started the year with total assets of $90,000 and total liabilities of $40,000. The revenues and the expenses for the year

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18. Gatto Production Services started the year with total assets of $90,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $130,000 and $80,000, respectively. During the year, the owner did not make aty additional contributions, but had withdrawals of $55,000. Calculate Gatto's net income for the year A. $50,000 B. $130,000 C. $80,000 D. $90,000

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