Based on the following items shown on the adjusted trial balance sheet for the year $2022,$ calculate the

balance of retained earnings shown on the balance sheet at the end of the year $2022.$

Accounts Dr$.($$$)$ Cr$.($$$)$

Cash $1,000$

Inventory $50,000$

Prepaid expense $400$

Unearned revenue $800$

Sales revenue $50,000$

COGS $15,000$

Loss on PPE revaluation $($P&L$)3,000$

Gains on Land revaluation $($OCI$)700$

Dividend payable $2,000$

Declared dividend $6,000$

Retained earnings $($o$/$b$)30,000$

General reserve $5,000$