Use the Following Information for Questions

Multiple Choice

Use the following information for questions.
At December 31, 2016, the balance in Helsinki Ltd.'s retained earnings account was $420,000.During 2017, Helsinki had the following transactions:
Acquired 5,000 treasury shares at $27 a share.The shares are no par and had originally been issued for $24 per share.There had been no previous treasury shares transactions.
Sold the 5,000 treasury shares at $32 a share.
Reported net income of $150,000.
-The balance in retained earnings at December 31, 2017 would be

A) $555,000.
B) $570,000.
C) $585,000.
D) $610,000.