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Compute how much is the net income for the year

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Problem 1: Primer Consultants had the Following balance sheet amounts at the beginning of the year: Totalassets $ 400,000 Total liabilities $ 150,000 During the year, total assets decreased by $70,000 and total liabilities increased by $10,000. Primer also declared and paid $15,000 in dividends. How much is the net income for the year?

Option 1: $30,000

Option 2: ($95,000)

Option 3: ($65,000)

Option 4: ($105,000)

Reference no: EM132733180

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