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Information related to the Franklin Jones Company for the calendar year 2010 follows: Liabilities, December 31, 2010 $400 Assets, December 31, 2010 700 Dividends distributed

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Information related to the Franklin Jones Company for the calendar year 2010 follows: Liabilities, December 31, 2010 $400 Assets, December 31, 2010 700 Dividends distributed during 2010 90 Liabilities, December 31, 2009 350 Assets, December 31, 2009 350 Assuming no capital stock was issued during 2010, the net income earned by the Franklin Jones Company during 2010 was $110 $200 $260 $290

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