Last year a firm paid out $217,500 of common dividends and ended the year with $1,875,000 of retained earnings versus the prior year's retained earnings of $1,322,500. How much net income did the firm earn during the year? Select one: O a. $770,000 O b. $808,500 O c. $848,930 O d. $891,370 O e. $935,940