Required information [The following information applies to the questions displayed below.) The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Consulting revenue Cash Cash received from common stock issued during Year 2 Travel expense Dividends Cash flow from investing activities Rent expense Payment to reduce debt principal Retained earnings, January 1, Year 2 Salary expense Cash flow from operating activities Common stock, December 31, Year 2 Other operating expenses $ 9,400 8,400 3,600 650 1,700 2,700 1,250 25,000 14,000 3,400 2,500 B. 200 2,300 c-1. Determine the Retained Earnings account balance at December 31, Year 2. c-2. Which of the following statement(s) is true? Complete this question by entering your answers in the tabs below. Reg Ci Reg 02 Determine the Retained Earnings account balance at December 31, Year 2 Retained earings c-1. Determine the Retained Earnings account balance at December 31. Year 2. c-2. Which of the following statement(s) is true? Complete this question by entering your answers in the tabs below. Reg CI Reg C2 Which of the following statement(s) is true? (Check all that apply.) Not income does not include revenue of the current year. Retained earnings does not include current year net income, but only the balance from previous years Retained earings not only includos current year net income, but also the balance from previous years and reductions for dividonds Retained earnings does not include the balance from previous years, but only the reductions for dividends Not Income only includes revenues and expenses for the current year.