The changes in account balances for Allen Inc. for 2011 are as follows: Assets $225,000 debit Common stock 125,000 credit Liabilities 80,000 credit

Paid-in capital--excess of par 15,000 credit -in capital--excess of par 15,000 credit

Assuming the only changes in retained earnings in 2011 were for net income and a $25,000 dividend, what was net income for 2011?

A. $5,000 B. $20,000 C. $30,000 D. $15,000