On December 1, 2022, Bronner Freight had a beginning balance in retained earnings of $45,800. Bronner Freight uses cash basis accounting. The following cash transactions occurred during the month of December:

a. Bronner Freight purchased land for $50,000 cash

b. Bronner Freight received $15,000 in fees from customers for services performed during December

c. Bronner Freight paid $8,500 in wages during the month of December

d. Bronner Freight paid its owner, Saul, a $1,000 dividend

Compute Bronner Freight's ending balance in Retained Earnings on December 31, 2022 after all transactions have been recorded.