Given the following information, what is Creed Companys retained earnings balance at the end of 2021? Hint: First, calculate net income for 2021 and then calculate the retained earnings balance.

	2021	2020
Retained Earnings	????	345,000
Dividends	50,000
Sales Revenue	214,000
Unearned Revenue	24,000
Interest Revenue	12,000
Advertising Expense	11,000
Salaries Expense	47,000
Depreciation Expense	35,000
Prepaid Insurance Expense	12,000
Accrued Interest	8,000
Tax Expense	7,000
Interest Expense	10,000

Total retained earnings is: