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): Campbell Newton Revenues Expenses Net income Retained earnings, 1/1 Net income Dividends Retained earning, 12/31 Cash Receivables and inventory $2,600 $ 700 1,880 400 $ 720 $ 300 $2,400 $ 500 720 300 (270) 0 $2,850 $ 800 $ 240 $ 230 1,200 360 Buildings (net) 2,700 650 Equipment (net) Total assets Liabilities 2,100 1,300 $6,240 $2,540 $1,500 $ 720 Common stock 1,080 400 Additional paid-in capital 810 620 Retained earnings 2,850 800 Total liabilities & stockholders' equity $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.