The following accounts and balances were drawn from the records of Hoover Company on December 31, 2013:

Cash	$3,000		Accounts Receivable	$1,350
Dividends	1,500		Common Stock	1,975
Land	1,800		Revenue	1,800
Accounts Payable	950		Expense	1,050

The amount of retained earnings as of January 1, 2014 was:

Multiple Choice

$2,475.

$3,975.

$3,225.

$4,800.