Tuscan Incorporated had a retained earnings balance of $60,000 at December 31 of the prior year. In the current year, Tuscan reported the following results. - Reported net income of $100,000. - Cash dividends of $33,000 declared and pald. - Tuscan discovered this year that it made a math error three years ago; to correct for this, $12,000 (net of tax) must be added to the current year's beginning retained earnings balance. - Revised an estimate of a machine's salvage value. Depreciation increased by $1,000 per year. Calculate the retained earnings balance at December 31 of the current year. Note: Amounts to be deducted should be indicated with a minus sign