On January 1, 2020, Grove, Inc.'s Retained earnings had a balance of $5,000. During the year, Grove eamed revenue of $8,000, incurred expenses of $3,400, sold stock to investors for $12,000, purchased land for $6,400, and paid dividends of $800. What is the final balance of Retained earnings at December 31, 2020 once closing entries have been recorded? Numeric Response