As of December 31, 2020, Brookshire Company had assets of $525,000 and liabilities of $280,000. During 2021, the stockholders invested an additional $60,000 and paid dividends of $30,000 from the business.

What is the net income for the company during 2021, assuming that as of December 31, 2021, assets were $680,000, and liabilities were $255,000?

Select one:

a. $60,000

b. $150,000

c. $250,000

d. none of the above