At the beginning of the year, Execon Company had total assets of $160,000, total liabilities of $110,000, and shareholders' equity of $50,000. For the year, Execon Company earned net income of $40,000 and declared cash dividends of $15,000. Without regard to any subsequent changes in assets or liabilities, Execon Corporation would report how much shareholders equity at the end of the year,:

a. $0.

b. $75,000.

c. $115,000.

d. $100,000.

e. None of the answers is correct.