Nelson Company Experienced the Following Transactions During Year 1, Its

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) $1,000.
C) $1,400.
D) $13,200.