Renai Concepts is a new company that issued 1,000 shares of stock for $20 per share. Its net income in the first year was $4,500. If it retains 50% of earnings, what is the book value of Renai's equity?

Renai Concepts is a new company that issued 1,000 shares of stock for $20 per share. Its net income in the first year was $4,500. If it retains 50% of earnings, what is the book value of Renai's equity