USE THE FOLLOWING INFORMATION FOR QUESTIONS BELOW

USE THE FOLLOWING INFORMATION FOR QUESTIONS BELOW:
Loweman's Car Repair Shop started the year with total assets of $30,000, total liabilities of $21,000, and retained earnings of $9,000. During the year, the business recorded $50,000 in car repair revenues, $35,000 in expenses, and the company paid dividends of $5,000. The investors did not make any additional investments during the year.
-The net income reported by Loweman's Car Repair Shop for the year was:

A) $15,000
B) $20,000
C) $25,000
D) $90,000
E) None of the above