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

Cash $4,800 Accounts Receivable $1,800

Dividends 2,400 Common Stock 2,875

Land 2,700 Revenue 2,700

Accounts Payable 1,400 Expense 1,500

Total assets on the December 31, 2013 balance sheet would amount to:

$9,300.

$11,700.

$12,000.

$7,500.

The amount of net income shown on the December 31, 2013 income statement would amount to:

$2,700.

$1,500.

$1,200.

$1,000.

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

$7,500.

$5,025.

$3,825.

$6,225.