Current Attempt in Progress These items are taken from the financial statements of Sandhill Ltd. at December 31, 2021: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation equipment Buildings Cash Common shares Equipment Income tax expense Interest expense Interest payable Land Long-term investments Mortgage payable Operating expenses Prepaid insurance Retained earnings, January 1 Service revenue Supplies $25,050 20,780 49,600 21.470 134,800 25,040 141,000 64.100 5,800 4,100 2,300 194,870 29.970 103,000 162,680 1,500 115,520 187,040 1,340 noge Operating expenses Prepaid insurance Retained earnings, January 1 Service revenue Supplies 162.680 1,500 115,520 187,040 1,340 Calculate net income and the ending balance of retained earnings at December 31, 2021 Net Income $ Retained Earnings $ eTextbook and Media List of Accounts Prepare a statement of financial position. Assume that the company will pay $28,500 of the mortgage payable in 2022. (List Current Assets in order of liquidity. List Property. Plant, and Equipment in order of Land, Buildings, and Equipment.) SANDHILLLTD. Statement of Financial Position Prepare a statement of financial position. Assume that the company will pay $28,500 of the mortgage payable in 2022. (List Current Assets in order of liquidity. List Property, plant, and Equipment in order of Land, Buildings, and Equipment.) SANDHILLLTD. Statement of Financial Position December 31, 2021 Assets 2 Current Liabilities Shareholders' Equity Current Assets Total Current Assets Total Shareholders' Equity Total Liabilities and Shareholders' Equity Property, plant and Equipment Total Liabilities Total Property, plant and Equipment Total Assets Total Current Liabilities Assets LILLED . Less Add Liabilities and Shareholders' Equity . Liabilities and Shareholders' Equity $ Total Liabilities Total Current Assets Total Shareholders' Equity Property, Plant and Equipment Shareholders' Equity Total Property, plant and Equipment Total Assets Current Liabilities Total Liabilities and Shareholders' Equity Total Current Liabilities Current Assets e Textbook and Media Liabilities and Shareholders' Equity . eTextbook and Media