The income statement for the year 2021 of Buffalo Co. contains the following information: Revenues $71000 Expenses: Salaries and Wages Expense $43500 Rent Expense 12500 Advertising Expense 10400 Supplies Expense 5800 Utilities Expense 2500 Insurance Expense 1800 Total expenses 76500 Net income (loss) $ (5500) At January 1, 2021, Buffalo reported retained earnings of $50500. Dividends for the year totalled $10600. At December 31, 2021, the company will report retained earnings of $23400. O $34400. O $45000. O $39900.