A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $110,000. During the year, Sales Revenue amounted to $80,000, Cost of Goods Sold was $40,000, and all other expenses totaled $10,000. The company declared and paid $27,000 as dividends. The ending balance of Retained Earnings would be A. $167,000 B. $113,000 C. $140,000 D. $110,000