The changes in account balances of the Vel Corporation during Year 6 are presented below:

	Increase
Assets	$356,000
Liabilities	108,000
Capital stock	240,000
Additional paid-in capital	24,000

Vel has no items of other comprehensive income (OCI), and the only charge to retained earnings was for a dividend payment of $52,000. Thus, the net income for Year 6 is

A.

$16,000

B.

$52,000

C.

$36,000

D.

$68,000