Over the past year, the Carpentry Shop had depreciation expense of $1,500 and interest expense of $500. Their CFO reported costs of goods sold at $2,000 on sales of $10,000 which place them at the 30% tax rate. Complete an Income Statement to find the firms Net Income.

Executives in the company decided to reward their shareholders with $300 in dividends. What was their addition to Retained Earnings for the year?