Required Information [The following information applies to the questions displayed below.] The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts payable Retained earnings $ 1,880 Accounts receivable 900 Common stock 1,200 Revenue 650 Expense 2,475 $1,050 1,375 1,200 750 The amount of Carolina's retained earnings on December 31, Year 1 was: 10 0 0 0