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Consider the following information for Spring Inc., and calculate the ending balance of retained earnings on December 31, 20Y7. Opening balance of retained earnings on

Consider the following information for Spring Inc., and calculate the ending balance of retained earnings on December 31, 20Y7.

Opening balance of retained earnings on January 1, 20Y7$3,925Common stock issued during 20Y7$1,500Net Income for 20Y7$4,420Dividends paid in 20Y7$2,500Ending cash balance on December 31, 20Y7$1,250

a.$7,095

b.$7,345

c.$5,845

d.$6,095

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