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A company reported total retained earnings of $170,000 on its balance sheet dated December 31, 2016. During the year ended December 31, 2017, the company

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A company reported total retained earnings of $170,000 on its balance sheet dated December 31, 2016. During the year ended December 31, 2017, the company reported net income of $20,000, paid a cash dividend of $4,000, declared and distributed a 10% stock dividend with a $5,000 total market value, and issued additional common stock for $40,000. The company's stock has a $1 par value. What is total retained earnings as of December 31, 2017? $221,000. $181,000. $190,000. O $185,000

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