At the end of 20x3, Libby company reported an ending balance for retained earnings of 50,000. during 20x4, the company reported the following amounts: dividends declared and paid, 30,000 and net income, 40,000. the 20x4 statement of retained earnings should report an ending balance for retained earnings of..

a)90,000

b)80,000

c)60,000

d)40,000