A corporation had year end 2018 and 2019 retained earnings balances of $160,000 and $267,500, respectively. In 2019 the firm paid $120,000 in dividends, in which $90,000 of them are common share dividends. If the firm is subject to a 35% tax rate, how much is the Net profits before taxes in 2019? ot Select one: O a $500,000 O b. $400,000 c. $350,000 d. $300,000 e. $450,000