Ningbo Steel had yearend 2010 and 2011 retained earnings balances of $5,000,000 and $6,000,000 respectively. The firm paid $100,000 of dividends in 2011. Based on this information, Ningbo Steel's net profit after taxes in 2011 was:
a) $100,000
b) $900,000
c) $1,000,000
d) $1,100,000
e) None of the above