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The trial balance for a company listed the following account balances at December 31, Year...

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Accounting

The trial balance for a company listed the following account balances at December 31, Year 1, the end of its fiscal year: cash, $22,000; accounts receivable, $17,000; inventory, $31,000; equipment (net), $86,000; accounts payable, $20,000; salaries payable, $8,000; interest payable, $4,000; notes payable (due in 18 months), $36,000; common stock, $62,000. Determine the year-end balance in retained earnings for the company

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