Question:

The beginning balance in total assets is $$100,000$ and total liability $$30,000.$ The ending balance in total assets is $$110,000$ and total liability $$40,000.$ Which of the following is possible?

Answer Choices:

Net income $($or profit$)$: $$40,000$; dividends paid: $$40,000$; no changes in other Owners' Equity accounts.

Net loss of $$70,000,$ no changes in the other Owners' Equity accounts.

Net loss of $$10,000,$ no changes in the other Owners' Equity accounts.

Net income $($or profit$)$ of $$10,000,$ no changes in the other Owners' Equity accounts.