As of December 31, Year 1, Moss Company had total cash of $148,000, notes payable of $84,800, and common stock of $51,600. During Year 2, Moss earned $28,000 of cash revenue, paid $16,000 for cash expenses, and paid a $2,200 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31, Year 1. Retained earnings b. & c. Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the accounting equation. (Enter any decreases to account balances with a minus sign.) MOSS COMPANY Effect of Year 2 Transactions on the Accounting Equation Event Beginning balance 1. Eamed revenue 2. Paid expenses 3. Paid dividend. Ending balance Assets Cash Liabilities Notes Payable Stockholders' Equity Common Retained Stock Earnings