Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions.

The starting balance of Cash is $12,500 The starting balance of Inventory is $5,200 The starting balance of Retained Earnings is $23,900

1. Consume good or service and pay expense of $3 2. Sell product for $20 in cash with historical cost of $16 3. Sell, deliver, and receive payment of $35 for service

What is the final amount in Retained Earnings?