****Please Give explanation and breakdown of anwsers ! Thank you

Norris Company experienced the following transactions during 2013, its first year in operation. 1. Issued $9,800 of common stock to stockholders. 2. Provided $6,100 of services on account. 3. Paid $2,550 cash for operating expenses. 4. Collected $3,800 of cash from accounts receivable. 5. Paid a $290 cash dividend to stockholders.

The amount of retained earnings appearing on Norris Company's December 31, 2013 balance sheet is:

$3,260.

$2,590.

$13,060.

$3,550.

James Company paid $3,900 for one year's rent in advance beginning on October 1, 2013. James's 2013 income statement would report rent expense, and its statement of cash flows would report cash outflow for rent, respectively, of

$975; $3,900

$975; $975

$3,900; $3,900

$650; $3,900

Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2014: 1) Started the business by issuing common stock for $7,710 cash 2) Paid cash to purchase $5,070 of inventory 3) Sold inventory that cost $3,105 for $7,460 cash 4) Incurred and paid operating expenses, $257 Schumacher Company engaged in the following transactions during 2015: 1) Paid cash to purchase $5,975 of inventory 2) Sold inventory that cost $7,210 for $15,570 cash 3) Incurred and paid operating expenses, $514 The amount of Retained Earnings at December 31, 2014 is