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Home Solutions began operations on January 2, 2010, with an investment of $50,000 by each of its two stockholders. Net income for its first year

Home Solutions began operations on January 2, 2010, with an investment of $50,000 by each of its two stockholders. Net income for its first year of business was $240,000. Home Solutions paid a total of $100,000 in dividends to its stockholders during the year. What is the company's Retained Earnings balance at Dec 31, 2010

a. $140,000

b. $190,000

c. $240,000

d. $340,000

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