House Audio Shop is a retailer of high quality audio equipment. It is currently the end of May 2013. The company's retained earnings balance as of May 1, 2013 was $56,000. During May, House Audio Shop earned $10,000 in revenue and incurred $7,500 in expenses. On May 30, 2013, the company declared and paid dividends in the amount of $3,500. What is the balance of retained earnings as at May 31, 2013?

Do not enter dollar signs or commas in the input boxes.

Ending Retained Earnings = $Answer