TOTALS January 1 December 31 Current assets $5,000 $ 10,000 All other assets 150,000 150,000 Liabilities 25,000 30,000 Common stock 50,000 65,000 Retained earnings 80,000 ? Additional data: Total expenses for the year were $35,000; Dividends paid during the year were $8,000 Using the above table, determine the retained earnings as of December 31? Select one: a. $65,000 b. $85,000 C. $75,000 d. $55,000