Ferris Company Reported the Following on Its Balance Sheet: Total

Multiple Choice

Ferris Company reported the following on its balance sheet: total contributed capital of $186,000,treasury stock of $19,500 and total stockholder's equity of $237,500.Ferris had 1,000,000 authorized shares of its $0.01 par value common stock of which 200,000 were outstanding. What was the amount of Retained Earnings reported in the balance sheet?

A) $184,000
B) $2,000
C) $71,000
D) $51,500