Crawford Company started the year with $60000 in its Common Stock account and a credit balance in Retained Earnings of $44000. During the year, the company earned net income of $48000, and declared and paid $20000 of dividends. In addition, the company sold additional common stock amounting to $28000. As a result, the balance in retained earnings at the end of the year would be $100000. $72000. $160000. $132000.