Warren Enterprises had the following events during Year 1: The business issued $30,000 of common stock to its stockholders. The business purchased land for $22,000 cash. Services were provided to customers for $26,000 cash Services were provided to customers for $15,000 on account. The company borrowed $26,000 from the bank. Operating expenses of $22,000 were incurred and paid in cash. Salary expense of $1,800 was accrued. A dividend of $14,000 was paid to the stockholders of Warren Enterprises. sk Tint Assuming the company began operations during Year 1, the amount of retained earnings as of December 31, Year 1 would be: Multiple Choice $3,000 $3,200 $27,200 $41,000