Allen Insurance Agency started the year with a beginning Retained Earnings balance of $ 29 comma 000. During the year, Allen Insurance Agency earned $ 40 comma 000 of Service Revenue and incurred $ 25 comma 000 of various expenses. Dividends of $ 9 comma 000 from the business were paid to stockholders. After the closing entries are recorded and posted, what will be the balance of Retained Earnings?
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