For the year ended December 31, 2010, Transformers Inc. reported the following:
Net income $60,000
Preferred dividends declared $10,000
Common dividend declared $2,000
Unrealized holding loss, net of tax $1,000
Retained earnings, beginning balance $80,000
Common stock $40,000
Accumulated Other Comprehensive Income, Beginning Balance $5,000
What would Transformers report as the ending balance of Retained Earnings?