Acme Company

Balance Sheet

As of January $5,2023$

$($amounts in thousands$)$

Cash $9,700$ Accounts Payable $1,500$

Accounts Receivable $4,500$ Debt $2,900$

Inventory $3,800$ Other Liabilities $800$

Property Plant & Equipment $16,400$ Total Liabilities $5,200$

Other Assets $1,700$ Paid$-$In Capital $7,300$

Retained Earnings $23,600$

Total Equity $30,900$

Total Assets $36,100$ Total Liabilities & Equity $36,100$

Update the balance sheet above to reflect the transactions below, which occur on January $6,2023$

$1.$ Sell product for $$20,000$ with historical cost of $$16,000$

What is the final amount in Retained Earnings?