42. (Extra Points) WildCats Company started its business on 1/1/2021. The following information about the company's business in 2021: - The company issued 5,000 shares of $1 par value common stock at $10 per share on 1/1/2021. - The company had $25.000 net income for 2021. - The company purchased treasury stocks at $15,000 on 6/30/2021. - The company declared and paid cash dividends of $12,000 on 12/31/2021. Assuming there were no other equity items and transactions, compute the company's total equity as of 12/31/2021. (a) $40.000 (b) $48.000 (c) $55.000 (d) $62.000