FLY Company is a partnership owned by Fuad, Labeeb, and Yaser, with capital balances of $ 40,000, $ 38,000, and $ 50,000 respectively, on 31/12/2021, before closing the accounts of the year. For 2021, the company had a bad year, where revenues were $ 178,000, while total expenses were $ 200,000. Also, during the year, Labeeb withdrew $ 3,500 for personal use, and made no additional investments.

The partnership agreement states the following concerning division of net income/ loss:

Salary allowances are given to partners as $ 10,000, $ 12,000, to Fuad and Labeeb respectively. Then, a 5% interest is given on capital balances to all partners, with the remaining to be divided equally between all partners.

Calculate the ending capital balance for Labeeb on 31/12/2021.