Most example speak to treasury stock, this question is asking about common stock treatment to solve earning. D would be the answer for treasury stock, but what about commons stock...which is owned by shareholders

At the beginning of 2024, Hamilton Company had retained earnings of $320,000. During the year Hamilton reported net income of $75,000, issued common stock shares for $27,000, declared a cash dividend of $45,000, and declared and issued a small stock dividend of 1,500 shares ($10 par value) when the fair value of the stock was $30 per share. The amount of retained earnings available for dividends at the end of 2024 was:

a.

$354,500.

b.

$332,000.

c.

$327,500.

d.

$305,000.