The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets =$50,000; Liabilities = ?; Common Stock =$15,000; Revenue =$22,000; Dividends =$1,500; Beginning Retained Earnings =$3,500; Ending Retained Earnings =$7,500. Based on this information, the amount of expenses on Calloway's income statement was: \begin{tabular}{|} $13,000. \\ $10,000. \\ $18,500. \\ $16,500. \end{tabular}