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Loot Company has a beginning retained earnings balance of $6,000. It has the following account balances at the end of the first year of operations:

Loot Company has a beginning retained earnings balance of $6,000. It has the following account balances at the end of the first year of operations:

Accounts Payable

$37,000

Revenues

$106,000

Unearned Revenues

$15,000

Salaries Expense

$14,000

Dividends

$8,000

Utilities Expense

$12,000

Accrued Expenses

$13,000

Advertising Expense

$10,000

Prepaid Expenses

$16,000

Short-term Investments

$20,000

Cash

$33,000

Land

$50,000

Common Stock

$53,000

What is the ending balance in Retained Earnings?

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