The beginning balance and ending balance of ABC Company stockholder's equity are of $500,000 and $650,000 respectively. The return on equity for the year is 20%. What is the net income for ABC company in this year? a. $130,000. b. $100,000. c. $115,000. d. $2,875,000. The balance sheet of Califomia Clothing reports total equity of $600,000 and $700,000 at the beginning and end of the year, respectively. The average total equity is 650,000 for the year. Net income and sales for the year are $65,000 and $1,300,000, respectively. What is California Clothing's return on equity? O a. 20% O b. 5% c. 200%