A firm had the following events:

• The firm made a $40 credit sale. The cost of goods sold was $10.
• The firm earned $5 of previously deferred revenue.
• The firm incurred and immediately paid $11 in various SG&A Expenses.
• The firm recognized $8 of insurance expense that had been prepaid in a previous period.
• The firm accrued $6 of interest expense.
• The tax rate is 40%.

How much will retained earnings increase or decrease at the end of the period as a result of the transactions listed above?