On January 1 of the current year, Jimmy's Sandwich Company reported stockholders' equity totaling $131,500. During the current year, total revenues were $113,000 while total expenses were $102,500. Also, during the current year paid $37,000 in cash dividends. No other changes in equity occurred during the year. If, on December 31 of the current year, total assets are $213,000, the change in total stockholders' equity during the year was:
A. A decrease of $47,500.
B. An increase of $47,500.
C. A decrease of $26,500.
D. An increase of $81,500
E. An increase of $26,500.
Answer: C
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