Moss Company Has Provided the Following Data

Moss Company has provided the following data:
2016 revenues were $87,500.
2016 expenses were $43,900.
Dividends declared and paid by Moss during 2016 totaled $15,700.
Total assets on December 31, 2016 were $227,000.
Total stockholders' equity on December 31, 2016 was $133,000.
Common stock on December 31, 2016 was $93,000.
Required:
Calculate the beginning retained earnings balance.