Nelson Company experienced the following transactions during Year 1, its first year in operation. Issued $9,000 of common stock to stockholders Provided $5,300 of services on account Paid $2,350 cash for operating expenses Collected $3,400 of cash from accounts receivable Paid a $250 cash dividend to stockholders What is the amount of retained earnings that will be shown on the companys balance sheet prepared as of December 31, Year 1