The trial balance at 31 December 2015 contained the following figures: ordinary share capital ($1 shares) $500000; retained earnings $300000. On 1 January 2016, the directors set up the general reserve of $70000. At the same time, $200000 ordinary shares were issued for $300000. By what amount did total reserves rise on 1 January 2016?
- A$100000
- B$170000
- C$300000
- D$370000