Super Shop had a retained earnings balance of $1,000 on December 31, 2010. For year 2011, sales

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Super Shop had a retained earnings balance of $1,000 on December 31, 2010. For year 2011, sales were $14,000 and expenses were $7,500.
Cash dividends of $1,000 were declared and distributed on December 31, 2011. What was the amount of retained earnings on December 31, 2011?

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