The following information was taken from the accounts of JT Corp at year end: Total income since incorporation P900,000 Total cash dividends paid P260,000 Proceeds from sale of donated shares P 90,000 Total value of share dividends distributed P60,000 Excess of proceeds over cost of treasury stocks sold P140,000 What should be the current balance of retained earnings? a. P780,000

b. P720,000

c. P580,000

d. P520,000