Adella Corp has outstanding 50,000 shares of $1 par value common stock as well as 10,000 shares of 6% $100 par value cumulative preferred stock. At the beginning of the year, the balance in retained earnings was $500.000, and one year's dividends were in arrears. Net income for the current year is $260,000 Compute the balance in retained earnings at the end of the year if Adella Corp pays a dividend of $2 per share on its commons tock this year O $540,000 5660.000 O $760,000 O $600,000