Calculator Las Palmas Company reported the following items on its finanoial statements for the year ending December 31, 2017 $400,000 30,000 25,000 560,000Cost of goods sold Sales Salary expense Dividends 40,000 30,000 Interest expense Income tax expense How much will be reported as retained earnings on Las Palmas balance sheet at December 31, 2017, if this is the first year of operations? a. $35,000 b. $45,000 c $85,000 Od. Not enough information is provided