Information related to the Berkley Company for the calendar year 2015 follows:
Liabilities, December 31, 2015$400
Assets, December 31, 2015700
Dividends distributed during 201590
Liabilities, December 31, 2014250
Assets, December 31, 2014350
?
Assuming no capital stock was issued during 2015, the net income earned by the Berkley Company during 2015 was
A. $110
B. $200
C. $260
D. $290
Answer: D
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