The adjusted trial balance of Fargo Company as of July $31,2022,$ is presented below. $($Read that

again, think about what that means about where Fargo is in the accounting cycle.$)$ Notice that the total

debits and credits for each account are indicated $($including the beginning balances$)$ rather than the usual

account balance. For example, the cash account had transactions which resulted in a total of $$67,700$

debits $($including the beginning balance$)$ and a total of $$55,400$ credits.

All adjusting entries have been made for the month of July $2022,$ except the adjustment for

inventory. Fargo's fiscal year end is June $30.$

What was the balance of Retained Earnings at the beginning of the fiscal year?