warren enterprises began operations during year 1. the company had the following events during year 1: the business issued $36,000 of common stock to its stockholders. the business purchased land for $28,000 cash. services were provided to customers for $32,000 cash. services were provided to customers for $21,000 on account. the company borrowed $32,000 from the bank. operating expenses of $28,000 were incurred and paid in cash. salary expense of $2,400 was accrued. a dividend of $20,000 was paid to the stockholders of warren enterprises. after closing, what is the balance of the retained earnings account as of december 31, year 1? multiple choice $22,600 $53,000 $21,000 $2,600