Tara Westmont, the Stockholder of Tiptoe Shoes, Inc

Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $185,000, expenses of $103,700, and the company paid $18,000 cash in dividends to the owner (sole shareholder) . The retained earnings account before closing had a balance of $297,000. The Net Income for the year is:

A) $185,000
B) $63,300
C) $81,300
D) $360,300
E) $378,300