Q5: Amber Company had the following data: (2 marks) Retained earnings, January 1, 2015 $45,000 Depreciation expense for 2015 $7,000 Cost of goods sold for 2015 $102,000 Paid-in capital, January 1, 2015 $26,000 Rent expense for 2015 $12,000 Sales for 2015 $194,000 Dividends declared in 2015 $15,000 Wage expense for 2015 $40,000 Prepaid rent, January 1, 2015 $2,000 What is the balance in Retained Earnings on December 31, 2015