On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders' equity of $129,000. During the current year, total revenues were $108,000 while total expenses were $97,500. Also, during the current year the company paid $32,000 in dividends. No other changes in equity occurred during the year. The change in total equity during the year was:
A. An increase of $21,500.
B. A decrease of $42,500.
C. A decrease of $21,500.
D. An increase of $42,500.
E. An increase of $79,000
Answer: C
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