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Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $207,500 of retained earnings versus the prior year's

Ullrich Printing Inc. paid out $21,750 of common dividends during the year. It ended the year with $207,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year?

Select the correct answer. a. $96,857 b. $96,786 c. $97,000 d. $96,715 e. $96,929

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