At the Beginning of 2011, Hamilton Company Had Retained Earnings

At the beginning of 2011, Hamilton Company had retained earnings of $150,000.During the year Hamilton reported net income of $75,000, sold treasury shares at a "gain" of $27,000, declared a cash dividend of $45,000, and declared and issued a small share dividend of 1,500 shares ($10 par value) when the fair value of the shares was $30 per share.The amount of retained earnings available for dividends at the end of 2011 was:

A) $184,500.
B) $162,000.
C) $157,500.
D) $135,000.