a$.$ Prepare Lang Services' balance sheet for December $31$ of each year.

Note: List accounts in balance sheet order.

$\backslash$table$[[,\backslash$table$[[$LANG SERVICES$],[$Balance Sheets$]],$Year $2,$Year $1],[$Assets$],[$Cash$,,$$$,72,000,$$$,57,600],[$Accounts receivable,$,,164,160,,126,000],[$Supplies$,,,33,840,,30,240],[$Equipment$,,,230,400,,194,400],[$Total assets,$,$$$,500,400,$$$,408,240],[$Liabilities$],[$Notes payable,$,$$$,12,960,$$$,11,520],[$Accounts payable,$,,180,000,,180,000],[$Total liabilities,$,,192,960,,191,520],[$Stockholders$\text{'}$ equity$],[,,,0,,0],[,,$$$,0,$$$,0]]$

b$.$ Lang Services raised $$36,000$ cash through issuing additional common stock early in Year $2,$ and it declared and paid a $$122,400$ cash dividend in December Year $2.$ Compute its net income or loss for Year $2.$

Note: Use a negative sign with your answer to indicate a net loss, if applicable.

$$

c$.$ Calculate the current ratio and quick ratio for Year $2.$

Note: Enter the numerator and denominator amounts used to compute the ratios.

$\backslash$table$[[$Ratio$,$Numerator $$ Denominator,,Result,$],[$Current ratio $$,10x$$$,10x=,1,],[$Quick ratio,$$,10x$$$,10x=,1]]$