New Hampshire Services Reported $2

New Hampshire Services reported $2.3 million of retained earnings on its balance sheet last year. This year, the company lost money--its net income was -$500,000 (negative $500,000) . Despite the loss, the company still paid a $1.00 per share dividend this year. The company's earnings per share for this year were -$2.50 (negative $2.50) . What was the level of retained earnings on the company's balance sheet this year?

A) $1.2 million
B) $1.6 million
C) $1.8 million
D) $2.6 million
E) $2.8 million