Woodward Enterprises had the following events during 2013: The business issued $29,000 of common stock to its stockholders. The business purchased land for $21,000 cash Services were provided to customers for $25,000 cash. Services were provided to customers for $14,000 on account The company borrowed $25,000 from the bank. Operating expenses of $21,000 were incurred and paid in cash. Salary expense of $1,700 was accrued A dividend of $13,000 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: Multiple Choice ) $25,300 53.100