Determining Retained Earnings and Net Income Using the Balance Sheet The following information is reported for Kinney Corporation at the end of 2015. Accounts Receivable $103,500 Retained Earnings $? Accounts Payable 49,500 Supplies Inventory 40,500 Cash 36,000 Equipment 621,000 Common Stock 495,000 a. Compute the amount of retained earnings at the end of 2015. $Answer b. If the amount of retained earnings at the beginning of 2015 was $135,000, and $54,000 in cash dividends were declared and paid during 2015, what was its net income for 2015? $