At December 31, 2014 Keen company had retained earnings of $1,292,000 during 2014 they issued stock for $49,000 and payed dividends for $17,00. The net income for 2014 was $201,000 the retained earning balance at the beginning of 2014 was?

a.) $1,476,000

b.) $1,108,000

c.) $1,157,000

d.) $1,427,000