The account balances for a company are listed below. All balances are as of December 31, 2011, except where noted otherwise

Accounts Payable	$7,200	Rent Expense	$3,000
Accounts Receivable	8,400	Equipment	74,500
Wages Payable	3,400	Furniture	16,600
Prepaid Expenses	500	Notes Payable (due 12/31/13)	40,900
Dividends	2,000	Accumulated Depreciation	8,000
Sales Revenue	99,850	Cash	14,000
Notes Payable (due 4/30/12)	1,000	Common Stock	20,000
Cost of Goods Sold	48,800	Goodwill	10,000
Loss on Sale of Equipment	5,500	Retained Earnings (1/1/11)	16,150
Inventory	9,500	Marketable Equity Securities	300
Advertising Expense	2,500	Depreciation Expense	1,100
Insurance Expense	2,000	Unearned Revenue	2,200

Determine the Ending Retained Earnings for 2011:

Group of answer choices

$36,950

$52,100

$51,100

$34,950

$71,100