On January 1, 2016, Francisco Company's Balance in Retained Earnings

On January 1, 2016, Francisco Company's balance in retained earnings was $80,000.During 2016, the company earned net income of $43,000 and paid $15,000 in dividends.Calculate the retained earnings balance at December 31, 2016.

A) $42,000
B) $90,000
C) $98,000
D) $108,000