The year$-$end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets $=$$$34,000$; Liabilities $=?$; Common Stock $=$$$6,400$; Revenue $=$$$13,800$; Dividends $=$$$1,450$; Beginning Retained Earnings $=$$$4,450$; Ending Retained Earnings $=$$$8,400.$

Based on this information, the amount of expenses on Calloway's income statement was

Multiple Choice

$$10,850$

$$500.$

$$3,950$

$$8,400.$

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