The J&W Corporation's shareholders' equity as at December 31, 20x7 is as follows: Common shares, 1222 shares outstanding $40000 Preferred shares $4.93, cumulative, 199 shares $15000 outstanding Retained Earnings $63458 The preferred share dividends were last paid on December 3120x4. It is now December 1, 20x8 and management wants to pay a dividend of $3.77 per common share. The company's 20x8 ending Retained a balance ST101, and there were no transactions relating to the issuance or redemption of common shares throughout the year. What was the company's net income for the year 20x8? Select one: a. $21174 b. $12643 c. $17250 O d. $20193