On January 1, Pulse Recording Studio (PRS) had the following account balances. Accounts Payable $ 8,500 Accounts Receivable 7,000 Accumulated DepreciationEquipment 6,000 Cash 3,800 Cash Equivalents 1,500 Common Stock 10,000 Equipment 30,000 Notes Payable (long-term) 12,000 Prepaid Rent 3,000 Retained Earnings 5,300 Supplies 500 Unearned Revenue 4,000 The following transactions occurred during January. 1. Received $2,500 cash on 1/1 from customers on account for recording services completed in December. 2. Wrote checks on 1/2 totaling $4,000 for amounts owed on account at the end of December. 3. Purchased and received supplies on account on 1/3, at a total cost of $200. 4. Completed $4,000 of recording sessions on 1/4 that customers had paid for in advance in December. 5. Received $5,000 cash on 1/5 from customers for recording sessions started and completed in January. 6. Wrote a check on 1/6 for $4,000 for an amount owed on account. 7. Converted $1,000 of cash equivalents into cash on 1/7. 8. On 1/15, completed EFTs for $1,500 for employees salaries and wages for the first half of January. 9. Received $3,000 cash on 1/31 from customers for recording sessions to start in February. What is the retained earnings? I have tried 5300