A firm provides the following information: At the beginning of the year: total assets $ 125,000 total liabilities $ 85,000 retained earnings $ 35,000 total shareholders' equity $ 40,000 During the year: earned net income declared cash dividends $ 55,000 $ 20,000 At the end of the year: total assets total shareholders' equity $ 165,000 $ 75,000 What was the total balance for Retained Earnings at the end of the year? Select one: a. $90,000 b. $55,000 C. $70,000 d. $75,000 e. None of the above