On January 1, 20A, Virginia Company Had $22,000 of Retained

Multiple Choice

On January 1, 20A, Virginia Company had $22,000 of Retained Earnings. During 20A Virginia earned profit of $40,000 and declared and paid dividends of $20,000. In addition, the company received cash of $15,000 as an additional investment by its owners. What is the ending balance in Retained Earnings at December 31, 20A?

A) $42,000.
B) $57,000.
C) $67,000.
D) $32,000.