McK Nursery, Incorporated, reports the following account balances on December 31,2024 : cash, $16,000; accounts receivable, $11,000; inventory, $25,000; equipment (net), $75,000; operating leases, $5,000; accounts payable, $14,000; salaries payable, $9,000; interest payable, $1,000; notes payable (due in 18 months), $30,000; common stock, $50,000. Required: Determine the year-end balance in retained earnings for McK Nursery, Incorporated