Assume that Cavalier, Inc. had a retained earnings balance of $$10,000$ on August $1,$ and that the company had the following transactions during August. Cavalier follows GAAP.

Issued common stock for cash, $$5,000.$

Provided services to customers on account, $$2,000.$

Provided services to customers in exchange for cash, $$900.$

Purchased equipment and paid cash, $$4,300.$

Paid August rent, $$800.$

Paid employees' salaries for August, $$700.$

What was Cavalier's retained earnings balance at the end of August?

Select one:

a$.$ $$11,400$

b$.$ $$16,400$

c$.$ $$12,100$

d$.$ $$9,400$