BB Inc. has a March 31 year end. Retained earnings at April 1, 2022, had a credit balance of $100,000. During the 2023 fiscal year, net income was $30,000 and dividends of $22,000 were declared and paid. During the 2024 fiscal year, BB had the ending retained earnings of $103,500, net loss of $4,000 and dividends of $500 were declared but not yet paid. What are the retained earnings for BB Inc. as at April 1, 2023?