At the Beginning of the Current Year,Elite Corporation Had 200,000

At the beginning of the current year,Elite Corporation had 200,000 shares of $1 par common stock outstanding and had retained earnings of $4,800,000.During the year,the company earned $1,675,000,declared a 10% stock dividend when the price of stock was $28 per share,and paid a year-end cash dividend of $3 per share.(The cash dividend was paid after the stock dividend had been distributed. ) What was Elite Corporation's retained earnings at the end of the year?

A) $5,915,000
B) $5,255,000
C) $5,311,000
D) $3,580,000