Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 31,300 18,700 11,600 25,900 12,500 The following events apply to Oak Consulting for Year 2: 1. Provided $70,700 of services on account. 2. Incurred $3,400 of operating expenses on account. 3. Collected $49,500 of accounts receivable. 4. Paid $30,200 cash for salaries expense. 5. Paid $13,500 cash as a partial payment on accounts payable. 6. Paid a $9,700 cash dividend to the stockholders. e. What is the amount of change in retained earnings for the year? Change in retained earnings $ 3,500