• Barney Corporation recognized a $100 million preferred stock balance on 12/31/2019.
• On January 1, 2020, Barney issued $10 million in preferred dividends.
• On the same date, Barney raised an additional $20 million via a new issuance of preferred stock.
• On December 31, 2020, the market value of the original amount of preferred shares rose $5 million.

Under US GAAP, the 12/31/2020 year ending preferred stock balance is:

A. $110m

B. $115m

C. $120m

D. $125m