In its December 31, 2014 year-end balance sheet Geek, Inc reported total assets of $344,000; total liabilities of $79,000 and contributed capital of $47,000. In its December 31, 2015 year-end balance sheet, Geek Inc reported $515,000 in total assets and $142,000 total liabilities. The company raised funds by issuing $26,000 common stock in 2015. The company also declared and paid $54,000 dividends in 2015. What did Geek, Inc report as beginning retained earnings for 2015?
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