Question: The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year $156,000
Cash dividends declared for the year $ 46,000
Proceeds from the sale of equipment $ 81,000
Gain on the sale of equipment $7,000
Cash dividends payable at the beginning of the year $ 18,000
Cash dividends payable at the end of the year $ 40,000
Net income for the year $ 92,000
What is the ending balance for retained earnings?
A. $276,000.
B. $202,000.
C. $254,000.
D. $248,000.
E. $174,000.