A company had the following assets and liabilities at the beginning and end of the current year: AssetsLiabilities Beginning of year$230,000? $96,000? End of the year 261,000? 78,200? Common stock in the amount of $23,000 was issued and dividends of $6600 were paid during the year. What is the amount of net income for the year?
A. $65,200
B. $19,200
C. $32,400
D. $48,800
Answer: C
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