The statement of stockholders' equity for Jutras Corporation shows an increase in the Common Stock account of

$8,000, an increase in Additional Paid-in Capital--Common in the amount of $22,000, and an increase in Retained Earnings of $50,000. If the stock has a par value of $3 and dividends of $10,000 were declared and paid during the year, what is the amount of net income for the year?

a. $40,000

b. $50,000

c. $60,000

d. $90,000