Use the following information to answer questions 13 and 14: The Boucher Company was started by a group of investors on Jan. 1, 20X1 when the balance sheet was made up of total assets of $10,000 and total liabilities of $8,000. Partial financial data for the first year of operations is as follows: 20X1 Total assets (12/31) $18,000 Total liabilities (12/31) 9,000 Additional investments by owners 8,000 Cash dividends declared 4,000 Cash dividends paid 3,000 What was the net income for the year 20X1? $2,000 $3,000 $4,000 $5,000 $6,000 Question 14 1 pts What was the retained earnings balance (deficit) on 12/31/20X1? ($3,000) ($2,000) O($1,000) $2,000 $3,000