The accountant for TI Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 173,000 Cash dividends declared for the year 54,800 Net income for the year 103,000 What is the ending balance for retained earnings?

• $297,000.

• $15,200.

• $276,000.

• $221,200.

• $118,200.