Question: Please provide the answer to this general accounting question with proper steps. Smith Enterprises started the year with total assets of $300,000 and total liabilities

Please provide the answer to this general accounting question with proper steps.

Smith Enterprises started the year with total assets of $300,000 and total liabilities of $120,000. During the year, the business recorded $250,000 in revenues, $140,000 in expenses, and dividends of $50,000. Stockholders' equity at the end of the year Was: A. $240,000 B. $180,000 C. $200,000 D. $130,000

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