The Retained Earnings Balance of the Jackman Company Was $50

Multiple Choice

The retained earnings balance of The Jackman Company was $50 000 on the first day of the accounting year. Profit during the year was $120 000. At the end of the accounting year a dividend of $15 000 was declared. The dividend will be paid the following year. The year-end balance of retained earnings is:

A) $120 000.
B) $185 000.
C) $105 000.
D) $155 000.