At the beginning of 2021, assume Costco had $22,000 assets and $10,850 of liabilities. Assume Costco only has two equity accounts, common stock and retained earnings. The beginning balance in 2021 in its common stock account was $5,000. During 2021, Costco declared $400 of dividends and had $1,700 of net income. What is Costco's ending retained earnings for 2021?

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