Wellman Pharmaceuticals began the year with a balance in retained earnings of $156,000 and 41,600 shares of $1 par common stock outstanding. During the year, the company reported sales of $560,000, expenses of $280,000, and declared and paid a $0.30 per share cash dividend. How much is the balance in the Retained Earnings account at the end of the year? Select one: a. $423,520 b. $436,000 C. $321,600 O d. $560,000