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TB MC Qu. 02-62 (Algo) Warren Enterprises had the following... Warren Enterprises began operations during Year 1. The company had the following events during Year 1 : - The business issued $29,000 of common stock to its stockholders. - The business purchased land for $21,000 cash. - Services were provided to customers for $25,000 cash. - Services were provided to customers for $14,000 on account. - The company borrowed $25,000 from the bank. - Operating expenses of $21,000 were incurred and paid in cash. - Salary expense of $1,700 was accrued. - A dividend of $13,000 was paid to the stockholders of Warren Entertrises. After closing, what is the balance of the Retained Earnings account as of December 31, Year 1 ? Multiple Choice $16,300 - Salary expense of $1,700 was accrued. - A dividend of $13,000 was paid to the stockholders of Warren Enterprises. After closing, what is the balance of the Retained Earnings account as of December 31, Year 1 ? Multiple Choice $16,300 $39,000 $14,000 $3,300