Determining Retained Earnings and Net Income Using the Balance Sheet The following information is reported for Kinney Corporation at the end of 2018. Accounts Receivable $23,000 Retained Earnings $? Accounts Payable 11,000 Supplies Inventory 9,000 Cash 8,000 Equipment 138,000 Common Stock 110,000 a. Compute the amount of retained earnings at the end of 2018. b. If the amount of retained earnings at the beginning of 2018 was $30,000, and $12,000 in cash dividends were declared and paid during 2018, what was its net income for 2018