The first year of operations for a company was Year 1. The net income for Year 1 was $20,900 and dividends of $12,450 were paid. In Year 2, the company reported net income of $34,900 and paid dividends of $5,450. At the end of Year 1, the company had total assets of $159,000. At the end of Year 2, the company had total assets of $ $249,000. Use the information above to answer the following question. What is the amount of retained earnings at the end of Year 2?
A) $240,000.
B) $269,000.
C) $29,000.
D) $37,000.
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