The Williams Model Aircraft Repair Shop started the year with total assets of $970,000, total liabilities of $540,000, and retained earnings of $200,000. During the year, the business recorded $190,000 in sales revenues, $90,000 in expenses, and the company paid no dividend.

The Williams balance of retained earnings at the end of the year was:

$100,000

$300,000

$280,000

$200,000