Please help with correct answer and explaination if possible, thx!(:

1. The total assets and the total liabilities of a particular business enterprise at the beginning and at the end of the year are stated below. During the year, dividends of $30,000 were paid and $25,000 of additional capital stock was issued. What was the amount of net income for the year? Assets Liabilities Beginning of year End of year $290,000 355,000 $190,000 220,000 1