Capstone Corp. reported $150,000 of comprehensive income for 2014. It also reported the following:
Beginning retained earnings
$300,000
Income tax expense
$ 60,000
Ending retained earnings
$320,000
Cash dividends declared
$ 80,000
Other comprehensive income
$ 50,000
What was Capstone's net income for 2014?
A.$40,000
B.$140,000
C.$120,000
D.$100,000
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