Mark$$s Consulting Services experienced the following transactions for Year $1,$ its first year of operations, and Year $2.$ Assume that all transactions involve the receipt or payment of cash.

Transactions for Year $1$

Acquired $$20,000$ by issuing common stock.

Received $$35,000$ for providing services to customers.

Borrowed $$25,000$ cash from creditors.

Paid expenses amounting to $$22,000.$

Purchased land for $$30,000$ cash.

Transactions for Year $2$

Beginning account balances for Year $2$ are:

Cash $ $28,000$

Land $30,000$

Notes payable $25,000$

Common stock $20,000$

Retained earnings $13,000$

Acquired an additional $$24,000$ from the issue of common stock.

Received $$95,000$ for providing services in Year $2.$

Paid $$15,000$ to reduce notes payable.

Paid expenses amounting to $$71,500.$

Paid a $$3,000$ dividend to the stockholders.

Determined that the market value of the land is $$47,000.$

Determine the balance in the Retained Earnings account immediately after Event $2$ in Year $1$ and in Year $2$ are recorded.