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On September 30, Year 1, Royal Flush Pluming, Inc., issued a $20,000, 7%, 5-month note. For the year end, December 31, Year 1, Interest Expense equals $ The entry to record the purchase of merchandise on account causes an increase in one asset and decrease in another asset assets and decrease in shareholder's equity assets and shareholders' equity assets and liabilities QUESTION 21 For the year ended December 31, Year For the year ended December 31, Year 2 1 Revenues $6,500 $ 500 Expenses 1,500 Net Income December 31, Year 2 December 31, Year 1 Assets $ 16,500 $1,000 Liabilities 500 Stock 300 300 Retained Earnings 1.$. 200 Assume Year 1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After determining the missing amounts ($ in the above financial statements, calculate and type in the December 31, Year 2 Retained Earnings 1.$_