Woodward Enterprises had the following events during $2013$:

The business issued $$20,000$ of common stock to its stockholders.

The business purchased land for $$12,000$ cash.

Services were provided to customers for $$16,000$ cash.

Services were provided to customers for $$5,000$ on account.

The company borrowed $$16,000$ from the bank.

Operating expenses of $$12,000$ were incurred and paid in cash.

Salary expense of $$800$ was accrued.

A dividend of $$4,000$ was paid to the owners of Woodward Enterprises.

Assuming the company began operations during $2013,$ the amount of retained earnings as of December $31,2013$ would be:

Group of answer choices

A$.$ $$4,200$

B$.$ $$5,000$

C$.$ $$8,200$

E$.$ $$21,000$