im having a hard time on how to get the answer. If you could show your work, that would be great. Thank you in advance!

The beginning balance in the Common Stock account of a company was $12,000. The revenues and expenses were $230,000 and $120,000, respectively. During the year, the company declared and paid dividends of $5,000. The ending balance in the Retained Earnings was $105,000. (Assume that the beginning balance of Retained Earnings was zero.) O True O False