Nelson Company experienced the following transactions during Year 1, its first year in operation.1. Issued $12,000 of common stock to stockholders. 2. Provided $4,600 of services on account. 3. Paid $3,200 cash for operating expenses. 4. Collected $3,800 of cash from accounts receivable. 5. Paid a $200 cash dividend to stockholders.The amount of retained earnings appearing on Nelson Company's December 31, Year 1 balance sheet is:
A. $1,200.
B. $13,200.
C. $1,000.
D. $1,400.
Answer: A
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