On December 31, Fighting Okra Cooking Services reports the following revenues and expenses.

Service revenue	$	88,000
Postage expense		2,150
Legal fees expense		3,050
Rent expense		11,900
Salaries expense		37,000
Supplies expense		21,000

In addition, the balance of common stock at the beginning of the year was $850,000, and the balance of retained earnings was $58,000. During the year, the company issued additional shares of common stock for $38,000 and paid dividends of $36,000.