can someone explain these to me i dont understand the concept of these

Mahomes Co. reported the following data at the end of its first year of operations on December 31. Cash Accounts receivable Equipment Land Accounts payable Common stock Dividends Net income $ 6,000 7,000 9,000 34,000 3,000 15,000 22,000 60,000 (a) Prepare its year-end statement of retained earnings. (b) Prepare its year-end balance sheet, using retained earnings calculated in part a. os Complete this question by entering your answers in the tabs below. Required A Required B Prepare its year-end balance sheet, using retained earnings calculated in part a. MAHOMES CO. Balance Sheet December 31 Assets Accounts receivable Cash Consulting fees earned Dividends Net income 22,000 60,000 (a) Prepare its year-end statement of retained earnings. (b) Prepare its year-end balance sheet, using retained earnings calculated in part a. Complete this question by entering your answers in the tabs below. 5:36 Required A Required B ok Prepare its year-end balance sheet, using retained earnings calculated in part a. 3 encos MAHOMES CO. Balance Sheet December 31 Assets Accounts receivable Cash Consulting fees earned 0 $ $ 0