For the past four years, ABC reported the following annual net Income and dividend amounts: Year 1 Net Income $22,000 17,000 ,000 14,000 Dividends $2,000 2,000 1,000 3,000 3 9 At the end of Year 4. Retained Earnings was $70,000. What was the company's Retained Earnings at the beginning of Year 1? Numeric Response