Answer:
b. $ 36,000
Explanation:
The fundamental accounting equation is
Assets = Liabilities + Stockholders Equity
Per the data provided in the question regarding changes in account balances
$ 356,000 = $108,000 + (240,000+24,000)
$ 356,000 = $ 372,000
= - ($ 14,000)
Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.
$ - 14,000 + $ 52,000 = $ 36,000
