On 1 July 2019 the Balance in Wolston Pty Ltd's

On 1 July 2019 the balance in Wolston Pty Ltd's retained earnings account was $450 000. The balance on 30 June 2020 was $700 000. On 20 June 2020, the directors declared dividends of $120 000 which were payable on 31 August 2020. Assuming all closing entries have been completed the profit for the year ending 30 June 2020 was:

A) $ 250 000
B) $ 370 000
C) $ 450 000.
D) $ 580 000.