Muscat Electrical Company has been around for three years. During this time, it reported the following net income: Year 1: RO 42,000 Loss Year 2: RO 18,000 Loss Year 3: RO 320,000 Profit Falcon Corporation paid no dividends till year 2 but for year 3 it paid dividend @ 100 baiza each on its equity shares. The company till then had issued 2,000,000 share of RO 0.500 each fully paid. What is the amount of retained earnings balance after the completion of three years? a. OMR 173,000 ob. OMR 60,000 C. OMR 260,000 od. OMR 42,000 Question 14