At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance
Cash $29,400
Accounts receivable 21,600
Accounts payable 12,000
Common stock 28,300
Retained earnings 10,700

The following events apply to Oak Consulting for Year 2:

Provided $68,400 of services on account.
Incurred $3,100 of operating expenses on account.
Collected $47,400 of accounts receivable.
Paid $31,100 cash for salaries expense.
Paid $13,590 cash as a partial payment on accounts payable.
Paid a $8,500 cash dividend to the stockholders.

Required:
a. What is the amount of net income for the year?
b. What is the amount of change in retained earnings for the year?