Balance Sheet

$($amounts in thousands$)$

Cash $13,700$ Accounts Payable $2,000$

Accounts Receivable $3,200$ Debt $3,600$

Inventory $5,100$ Other Liabilities $900$

Property Plant & Equipment $15,400$ Total Liabilities $6,500$

Other Assets $800$ Paid$-$In Capital $7,200$

Retained Earnings $24,500$

Total Equity $31,700$

Total Assets $38,200$ Total Liabilities & Equity $38,200$

Update the balance sheet above to reflect the transactions below, which occur on January $6,2024$

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

What is the final amount in Retained Earnings?