A limited company showed these balances on 1 January 2021: Revaluation reserve: $20\,000. Retained earnings: $142\,000. Profit for the year ended 31 December 2021 amounted to $105\,000. The $20\,000 revaluation reserve had been set up two years earlier from a revaluation of a property. That same property was revalued again on 31 December 2021, resulting in a revaluation loss of $35\,000. An interim dividend of $40\,000 was paid on 1 August 2021. A final dividend of $55\,000 was proposed on 31 December 2021. What was the amount of retained earnings at 31 December 2021?
- A$117\,000
- B$137\,000
- C$172\,000
- D$192\,000