Jenna Jeffries started her business baking dog treats by investing cash of $1000.During May its first month of operations Jenna's Barkery had revenues of $3000 all of which was collected in cash.She paid her assistant $1000 in cash and purchased $200 of supplies on account.The business paid cash dividends of $500.Use the following tabular analysis to determine the balance in Retained Earnings at the end of the month. 
Definitions:
Base Year
A reference year used for comparative analysis, often in calculating economic indicators like indexes.
Absolute Change
The difference between the final value and the initial value of a quantity, without regard to the direction of change.
Price Level
A summary average of current prices for the full spectrum of goods and services in the economy.
Consumer Price Index
An index of the variation in prices paid by typical consumers for retail goods and other items.
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