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The Retained Earnings balance of Mantua Company was $128,700 on January 1, 2018. Net Income for 2018 was $72,820. For the fiscal year of 2018

The Retained Earnings balance of Mantua Company was $128,700 on January 1, 2018.

Net Income for 2018 was $72,820. For the fiscal year of 2018 there is no stock dividends nor property dividends declared. If Retained Earnings had a credit balance of $57,750 after closing entries were posted on December 31, 2018, and if additional stock of $35,750 was issued during the year, dividends declared during 2018 were:

a. $106,700

b. $143,770

c. $179,520

d. $158,125

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