A company started the year with $$75,000$ in its common stock account and a credit balance in retained earnings of $$42,000.$ During the year, the company earned net income of $$60,000$ and declared and paid $$17,500$ of dividends. In addition, the company sold additional common stock amounting to $$32,000.$ As a result, the amount of its retained earnings at the end of the year would be $$

$$24,500$

$$191,500$

$$159,500$

$$119,500$

$$84,500$