(CO C) For the year ended December 31, 201X, King Inc. reported the following. Net income $30,000 Preferred dividends declared $5,000 Common dividend declared $1,000 Unrealized holding loss, net of tax $500 Retained earnings, beginning balance $40,000 Retained earnings, beginning balance $40,000 Common stock $20,000 Accumulated other comprehensive income, beginning balance $3,000 What would transformers report as the ending balance of retained earnings