The information below relates to a limited company. On 1 April 2021, the retained earnings account showed a balance of $858\,000. For the year ending 31 March 2022: Profit from operations: $978\,000 Debenture interest paid for the year: $100\,000 Ordinary share dividends paid: $150\,000 On 31 March 2022, the directors moved $280\,000 into a general reserve. In addition, they issued 250,000 bonus shares of $1 each from the general reserve. What was the retained earnings account balance on 31 March 2022?
- A$1\,056\,000
- B$1\,306\,000
- C$1\,406\,000
- D$1\,586\,000