The trial balance for a company listed the following account balance at December 31, year 1, at the end of its fiscal year: cash, $35,000; accounts receivable, $30,000; inventory, $44,000; equipment (net), $99,000; accounts payable, $33000; salaries payable, $14,500; interest payable, $10,500; notes payable (due in 18 months), $49,000; common stock, $88,000. What is the year end balance in retained earnings for the company