The following information appears in the records of Boco Corporation at year-end: Accounts Receivable $23,000 Retained Earnings $ ? Accounts Payable 11,000 Supplies 9,000 Cash 12,000 Equipment, net 138,000 Common Stock 110,000 a. Calculate the amount of retained earnings at year-end. b. If the amount of retained earnings at the beginning of the year was $30,000, and $12,000 in dividends is paid during the year, calculate net income for the year.