The trial balance for a company listed the following account balances at December 31, Year 1, the end of its fiscal year: cash, $28,000; accounts receivable, $23,000; inventory, $37,000; equipment (net), $92,000; accounts payable, $26,000; salaries payable, $11,000; interest payable, $7,000; notes payable (due in 18 months), $42,000; common stock, $74,000. Determine the year-end balance in retained earnings for the company