ALI Services was incorporated on January 1, 2020. During 2020, shareholders contributed capital of $1,000,000, ALI earned $500,000 in net income, and ALI paid $10,000 in dividends to its shareholders. What is the balance of retained earnings as of December 31, 2020? O A. $510,000 O B. $490,000 O C. $1,500,000 OD. $1,490,000