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BasicOilChange Company's Retained Earnings balance on 1/1/20x1 was $9,000. During 20x1, BasicOilChange earned $8,100 in revenues and incurred $4,300 in expenses. BasicOilChange declared and paid

BasicOilChange Company's Retained Earnings balance on 1/1/20x1 was $9,000. During 20x1, BasicOilChange earned $8,100 in revenues and incurred $4,300 in expenses. BasicOilChange declared and paid $3,000 in dividends, all in cash. After the closing entries are made, BasicOilChanges Retained Earnings balance on 12/31/20x1 will be:

A. $800

B. $7,800

C. $9,000

D. $9,800

Your answer (A, B, C, or D)

Show your calculation in detail.

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