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On January 1, Pruhart Company had these assets, liabilities, and equity:
| Cash | $100 |
| Inventory | 140 |
| Accounts Payable | 70 |
| Paid-in Capital | 150 |
| Retained Earnings | 20 |
During the year, Pruhart Company entered into the following transactions:
a. Sold Inventory costing $80 for a total of $120. Cash of $30 was received, and the remaining $90 was put on account.
b. Paid cash for employee wages of $15.
c. Paid cash dividends of $10.
What is Pruhart Companys net income for the year?
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