Bingo Inc. earned $2004$ net income of $$500.$ The balance of retained earnings on December $31,2003$ was $$3,000.$ The company declared and paid dividends of $$150$ in $2004.$ What was the balance of retained earnings on December $31,2004?$

a$.$ $$2,650$

b$.$ $$3,350$

c$.$ $$3,500$

d$.$ $$3,650$