Diamond SAOG Company issued 200,000 ordinary shares of OMR0.500 each and 50,000 6% preference shares of OMR1 each. Its profits after taxation for the year 2020 were OMR32, 000. The directors have decided to pay OMR 10,000 as ordinary dividend. What will be the balance of retained earnings at the yearend assuming that the company had an opening balance of RO 22,000?

a.

OMR 41,000

b.

OMR 38,000

c.

OMR 36,000

d.

OMR 44,000