The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2018 and 2017, reported the following data:

2018 2017

Common Stock, $1par per share $306 $300

Paid- in capital in excess of par, Common 174 150

Retained Earnings 314 300

also declared and issued a stock dividend. No other changes occurred in shares outstanding during 2018. What was Time's net income for 2018?

A. $14 million

B. $5 million

C. $65 million

D. $89 million