The following items are for Earth, Wind, and Fire Co.:

Retained earnings at beginning of year = $200 million

Value of newly issued shares during the year = $10 million

Net Income = $90 million

Dividend payout ratio = 30%

Value of shares repurchased during the year = $20 million

What is the retained earnings account balance at the end of the year?

$253 million

$263 million

$270 million

$290 million