The changes in account balances for Elder Company for $2018$ are as follows:

Assets

$

$680,000$

debit

Common stock

$350,000$

credit

Liabilities

$190,000$

credit

Paid$-$in capital$$excess of par

$40,000$

credit

Assuming the only changes in retained earnings in $2018$ were for net income and a $$30,000$ dividend, what was net income for $2018?$

Multiple Choice

$$170,000$

$$150,000$

$$140,000$

$$130,000$