After its first year of operations, Hogan Company has an ending balance of $23,000 of current assets, $55,000 of total liabilities, $65,000 of total shareholders equity. During the year, Hogan Company recorded $23,000 of net income. What was Hogan Companys balance in retained earnings at the start of the year?

I evaluated ending balance of retained earnings to be a large negative number and from there used that to get the beginning balance. Does it make sense for the numbers to be negative? I'm on the assumption that the current assets are my total assets. Am I missing anything?