Tantramar Corporation Has the Following Shareholders Equity on July 31

Multiple Choice

Tantramar Corporation has the following shareholders equity on July 31, 2013:
-Assume that on June 15, 2014, Tantramar paid the preferred dividend for the current year (there were no dividends in arrears) and paid a dividend of $2 to each common shareholder. The company earned $45,000 in profit during 2014. The July 31, 2014 financial statements will show an ending balance in retained earnings of

A) $500,000.
B) $545,000.
C) $475,000.
D) $430,000.