The financial statements for Campbell, Inc., and Newton Company for the year ended December 31, 2021, prior to the business combination whereby Campbell acquired Newton, are as follows (in thousands): Newton $ 700 400 $ 300 Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends $ 500 300 0 $ 800 Retained earning, 12/31 Cash Receivables and inventory Buildings (net) Equipment (net) Total assets Liabilities Common stock Additional paid-in capital Retained earnings Total liabilities & stockholders' equity Campbell $2,600 1,880 $ 720 $2,400 720 (270) $2,850 $ 240 1,200 2,700 2,100 $6,240 $1,500 1,080 810 2,850 $ 230 360 650 1,300 $2,540 $ 720 400 620 800 $6, 240 $2,540 On December 31, 2021, Campbell obtained a loan for $650 and used the proceeds, along with the transfer of 35 shares of its $10 par value common stock, in exchange for all of Newton's common stock. At the time of the transaction, Campbell's common stock had a fair value of $40 per share. In connection with the business combination, Campbell paid $25 to a broker for arranging the transaction and $30 in stock issuance costs. At the time of the transaction, Newton's equipment was actually worth $1,450 but its buildings were only valued at $590. Compute the consolidated retained earnings at December 31, 2021. Multiple Choice $2,825. $2,875. $2,900. $3,625. $3,650