I need the correct answer to this general accounting problem using the standard accounting approach.

The statement of stockholders' equity shows a $10,000 increase in the common stock account, a $25,000 increase in the paid-in capital in excess of par--common stock account, and a $120,000 increase in retained earnings. If the common stock has a par value of $5 and dividends of $12,000 were declared and paid during the year, what is the amount of net income for the year? a. $132,000 b. $120,000 c. $142,000 d. $110,000