Warren enterprises had the following events during year 1: the business issued $33,000 of common stock to its stockholders. the business purchased land for $25,000 cash. services were provided to customers for $29,000 cash. services were provided to customers for $18,000 on account. the company borrowed $29,000 from the bank. operating expenses of $25,000 were incurred and paid in cash. salary expense of $2,100 was accrued. a dividend of $17,000 was paid to the stockholders of warren enterprises. assuming the company began operations during year 1, the amount of retained earnings as of december 31, year 1 would be: a. 32900
b. 2700
c. 47000
d. 2900