At the beginning of 2014, M.R. Magoo Company had retained earnings of $100,000. During the year M.R. Magoo reported net income of $50,000, sold treasury stock at a gain of $18,000, declared a cash dividend of $30,000, and declared and issued a small stock dividend of 1,500 shares ($10 par value) when the market value of the stock was $20 per share. The amount of retained earnings available for dividends at the end of 2014 was: