Below Are Several Accounts from Norel Company's Accounting Records The Amount of Retained Earnings at the End of the

Below are several accounts from Norel Company's accounting records.
$\begin{array}{lr}\text { Total assets, end of year } & \$ 115,000 \\\text { Total liabilities, end of year } & 36,000 \\\text { Contributed capital, end of year } & 12,000 \\\text { Retained earnings, beginning of year } & 23,000 \\\text { Dividends for the period } & 31,000 \\\text { Net income } & 75,000\end{array}$
The amount of retained earnings at the end of the year is:

A) $39,000.
B) $45,000.
C) $67,000.
D) $69,000.