As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of $86,500, and common stock of $53,300. During Year 2. Moss earned $45,000 of cash revenue, paid $24.500 for cash expenses, and paid a $3.900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31 Year 1. Rotained earnings nces b.& c. Create an accounting equation and record the beginning account balances, revenue expense and dividend events under the appropriate elements of the accounting equation (Enter any decreases to account balances with a minus sign.) MOSS COMPANY Effect of Year 2 Transactions on the Accounting Equation Stockholders' Equity Event Notes Common Retained Payable Stock Earnings Beginning balance 1. Earned reverwe 2 Paid expenses 3. Pald dividend Ending balance 0 + - 0 stockholders Required a. Determine the amount of retained earnings as of December 31, Year 1. Retained earnings SOK Tences b.& c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation (Enter any decreases to account balonces with a minus sign.) MOSS COMPANY Effect of Year 2 Transactions on the Accounting Equation Assets Liabilities Stockholders' Equity Event Cash Notes Common Retained Payable Stock Earnings Beginning balance 1. Eamedrovence 2 Pad expenses 3. Pad dividend Ending balance 0+ D+