Scott's Camera Shop started the year with total assets of 80,000 dollars and total liabilities of 40,000 dollars.During the year,the business earned revenues of 120,000 dollars and incurred expenses of 70,000 dollars.Scott made no additional capital contributions during the year,but did make withdrawals of 60,000 dollars.Calculate Scott's net income for the year.

A)80,000 dollars

B)50,000 dollars

C)120,000 dollars

D)70,000 dollars