Given below are several accounts from Caterpillar Company's accounting records.
$\begin{array}{lr}
\text { Cash } & \$ 15,000 \
\text { Accumulated depreciation } & 7,000 \
\text { Retained earnings, beginning of year } & 22,000 \
\text { Contributed capital } & 25,000 \
\text { Patents } & 2,000 \
\text { Dividends } & 5,000
\end{array}$
Net income for the year was $40,000. How much is total shareholders' equity at the end of the year?
A)$86,000.
B)$88,000.
C)$87,000.
D)$82,000.

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The Answer of Given below are several accounts from Caterpillar Company's accounting records.
$\begin{array}{lr}
\text { Cash } & \$ 15,000 \
\text { Accumulated depreciation } & 7,000 \
\text { Retained earnings, beginning of year } & 22,000 \
\text { Contributed capital } & 25,000 \
\text { Patents } & 2,000 \
\text { Dividends } & 5,000
\end{array}$
Net income for the year was $40,000. How much is total shareholders' equity at the end of the year?
A)$86,000.
B)$88,000.
C)$87,000.
D)$82,000.

Given Below Are Several Accounts from Caterpillar Company's Accounting Records