During 2016, XYZ Corporation reported net income of $200 and paid dividends of $60. XYZ's December 31, 2015 statement of financial position reported the following items: common stock = $220, capital surplus = $180, retained earnings = $300. What is the value of the retained earnings account for the December 31, 2016 statement of financial position? Select one: a. $540 b. $440 c. $460 d. $160 e. $400