A company has $1000000 ordinary shares of $1 that were issued at $2.50. It also holds a $5\%$ debenture worth $300000$. Profit from operations for the year was $465000$. During the year, the directors paid an $8\%$ ordinary share dividend. By what amount did retained earnings rise during the year?
- A$250000
- B$370000
- C$385000
- D$400000