On Its 12/31/12 Balance Sheet, Barnes Inc Showed $510 Million

On its 12/31/12 balance sheet, Barnes Inc showed $510 million of retained earnings, and exactly that same amount was shown the following year. Assuming that no earnings restatements were issued, which of the following statements is CORRECT?

A) If the company lost money in 2012, it must have paid dividends.
B) The company must have had zero net income in 2012.
C) The company must have paid out half of its 2012 earnings as dividends.
D) The company must have paid no dividends in 2012.
E) Dividends could have been paid in 2012, but they would have had to equal the earnings for the year.