[01] KutePet Food Suppliers, Inc., reported the following financial information on December 31, 2019:

Common shares issued and outstanding throughout 2019 700,000 shares

6% nonconvertible cumulative preferred shares capital $450,000

Retained Earnings on January 1. 2019 $3,500,000

Basic EPS for 2019 $0.99 per share

In addition, the company did not declare any dividends for either 2018 or 2019. The amount which the company would report as Retained Earnings on December 31, 2019 would be:

Select one:

a.

$673,000

b.

$693,000

c.

$4,220,000

d.

$4,173,000

e.

$4,166,000