The following selected accounts and account balances were taken from the records of XYZ Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. XYZ Co. General Journal (in part) Consulting Revenue $ 18,200 Cash 35,600 Cash received from common stock issued during Year 1 6,000 Travel expense 2,100 Dividends 4,000 Cash flow from investing activities 5,200 Rent expense 3,500 Payment to reduce debt principal 10,000 Retained earnings, January 1, Year 2 16,200 Salary expense 7,200 Cash flow from operating activities 2,600 Common stock, December 31, Year 2 16,000 2,300 Other operating expenses Required: What was the balance in the retained earnings account as shown on XYZ Company's Balance Sheet as of December 31, Year 2?