A company had the following information as at June 30, 2022: 8% Preference shares @ $0.50 - $100,000 Retained earnings - $45,500 Ordinary dividends paid - $12,700 10% Debenture - $300,000 Ordinary shares @ $1.00-$350,000 Additional information: Profit after tax was $365,600 The preference dividend is yet to be paid b $27,000 is to be transferred to general reserves What is the retained earnings balance at the end of the 2022 financial year? O a. $454,400 Ob. $355,400 O c. $363,400 Od. $446,400