How do I find retained earnings as of July 1 (88000)? Is there a formula or what information do I need to solve it?

Receivable, $47,840; Supplies, $3,520; Land, $44,000; Accounts payable, $15,840; Common Stock, $10,000. Business transactions during July are summarized as follows a. Joel Palk invested additional cash in exchange for common stock with a deposit of $37,000 in the business bank account. b. Paid $18,400 for the purchase of land adjacent to land currently owned by D'Lite Dr Cleaners as a future building site. c. Received cash from customers for dry deaning revenue, $22,440. d. Paid rent for the month, $6,730. e. Purchased supplies on account, $3,140. f. Paid creditors on account, $16,610. g. Charged customers for dry deaning revenue on account, $44,880. h. Received monthly invoice for dry deaning expense for July (to be paid on August 10 $17,950. i. Paid the following: wages expense, $9,870; truck expense, $3,590; utilities expens $3,810; miscellaneous expense, $1,710. j. Received cash from customers on account, $35,900. k. Determined that the cost of supplies on hand was $2,470; therefore, the cost of supplies used during the month was $4,190. I. Paid dividends, $10,300. Required: 1: Determine the amount of retained earnings as of July 1, 2018. 88,000 V 2 Check My Works used Nex