Carpenter Carpet Company issued stock to Ted Carpenter in exchange for his investment of $25,000 cash in the business. The company recorded revenues of $185,000, expenses of $140,000, and had paid dividends of $10,000. What was Carpenter Carpet Company's net income for the year?

Group of answer choices

A. $60,000

B. $45,000

C. $35,000

D. $55,000