12. The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2013, the end of its fiscal year: cash, $17,000; accounts receivable, $12,000; inventories, $26,000; equipment (net), $81,000; accounts payable, $15,000; wages payable, $5,500; interest payable, $1,500; note payable (due in 18 months), $31,000; common stock, $52,000.

Determine the year-end balance in retained earnings for K and J Nursery, Inc.

What is the Retained Earnings?