Question C Exhibit 2-1 Totil Assets Beginning of the year End of the year Total Liabilities 60,000 S325,000 S500,000 1. Refer to Exhibit 2-1. What is net income, assuming no stock was issued and no dividends were paid? a. $215,000 b. $175,000 c. $135,000 d. $40,000 Refer to Exhibit 2-1. What is net income, assuming no stock was issued and dividends of$2S000 were 2. paid? a. $110,000 b. $150,000 c. $160,000 Focus