As of December 31, of the prior year, Brookshire Company had assets of $925,000 and liabilities of $285,000. During the current year, the stockholders invested an additional $50,000 and paid dividends of $30,000 from the business.

What is the net income for the company during current year, assuming that as of December 31, assets were $980,000, and liabilities were $255,000?

Select one:

a. $85,000

b. $105,000

c. $65,000

d. $20,000