Johnnys Car Repair Shop started the year with total assets of $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in car repair revenues, $55,000 in expenses, and dividends of$10,000.____ 3. The net income reported by Johnnys Car Repair Shop for the year was

a. $35,000.

b. $45,000.

c. $20,000.

d. $90,000.

e. none of the options listed