Acme Company

Balance Sheet

As of January 5, 2020

(amounts in thousands)Cash13,700Accounts Payable2,000Accounts Receivable3,200Debt3,600Inventory5,100Other Liabilities900Property Plant & Equipment15,400Total Liabilities6,500Other Assets800Paid-In Capital7,200Retained Earnings24,500Total Equity31,700Total Assets38,200Total Liabilities & Equity38,200

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020

1. Sell product for $40,000 with historical cost of $32,000

What is the final amount in Retained Earnings?

Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars.

Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet).