The total assets and the total liabilities of Ty Williams Financial Services, are shown below. During the year, the proprietor made no additional capital contributions, and took drawings of $15,000. Assets Liabilities Beginning of year $395,000 $290,000 End of year 455,000 320,000 What was the amount of net income for the year? Your answer: $85,000 $40,000 $45,000 $135,000