This information relates to Rosie's Rentals Pty Ltd for the year 2021: Retained Earnings, 1 January 2021 $90,000 Advertising 3,000 Dividends Paid during 2021 14,000 Rent 20,200 Hire Revenue 140,000 Electricity 4,800 Wages 56,000 Share Capital 40,000 Calculate the closing balance of Retained earnings at 31 December 2021:

a.

$146,000

b.

$132,000

c.

$116,000

d.

$56,000

e.

$42,000