Task: Nelson Company had equity accounts in 2000 as follows:
Common Stock ($1 Par Value) $120,000
Retained Earnings 32,000
Total Share holder's Equity $152,000
Projected income is $150,000 and the dividend per share to be paid immediately is 40%. What will the ending retained earnings account be?
A. $ 90,000
B. $ 92,000
C. $122,000
D. $210,000
E. $242,000