A company started the year with the following:

Assets	$ 113,000
Liabilities	39,500
Common Stock	69,500
Retained Earnings	4,000

During the year, the company earned revenue of $6,000, all of which was received in cash, and incurred expenses of $3,500, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2,000 to owners. Assume no other activities occurred during the year.

The amount of Retained Earnings at the end of the year is

		$2,000.
		$10,000.
		$4,500.
		$6,500.
		None of the above.