The income statement for Dobson Corporation reported net income of $22,400 for the year ended December 31 before considering the following:

• During the year, the company purchased available-for-sale securities.
• At year-end, the fair value of the investment portfolio was $2,100 more than cost.
• The balance of Retained Earnings was $83,000 on January 1.
• Dobson Corporation paid $9,000 in cash dividends during the year.

Calculate the balance of Retained Earnings on December 31.