The changes in account balances for Elder Company for $2018$ are as follows:

Assets

Common stock

Liabilities

$$680,000$ debit

$350\mathrm{.}000$ credit

$190\mathrm{.}000$ credit

Paid$-$in capital$-$excess of par

$30\mathrm{.}000$ credit

Assuming the only changes in retalned eamings in $2018$ were for net Income and a $$50,000$ dividend, what was net income for $2018?$

Multiple Choice

$$160,000$

$$150,000$

$$140,000$

$$170,000$