The following selected information is taken from the work sheet for Warton Company at its December 31 year-end. Income Statement Balance Sheet Debit Credit Debit Credit Retained Earnings 72,000 Dividends 40,000 Totals 120,000 180,000 Determine the amount for Retained Earnings that should be reported on its current December 31 year-end balance sheet. Note: The Retained Earnings balance was $72,000 on December 31 of the prior year