The following information was extracted from the accounts of Essex Corporation at December 31, 2017: Retained earnings, 1/1/2017 - $4,800,000; Cash dividends paid - $2,400,000; Net income for the year ended 12/31/2017 - $3,000,000; Revenue for the year ended 12/31/2017 - $8,500,000; and Land held for sale at 12/31/2017 - $6,000,000. Essex Corporation should report retained earnings, 12/31/2017, at $5,400,000 $11,400,000 $13,900,000 $10,200,000 The following information was extracted from the accounts of Essex Corporation at December 31, 2017: Retained earnings, 1/1/2017 - $4,800,000; Cash dividends paid - $2,400,000; Net income for the year ended 12/31/2017 - $3,000,000; Revenue for the year ended 12/31/2017 - $8,500,000; and Land held for sale at 12/31/2017 - $6,000,000. Essex Corporation should report retained earnings, 12/31/2017, at $5,400,000 $11,400,000 $13,900,000 $10,200,000