$$equirea intormation

$[$The following informatlon applies to the questions displayed below.$]$

Laser Delivery Services, Incorporated $($LDS$),$ was Incorporated January $1.$ The following transactlons occurred during the

year:

a$.$ Recelved $$40,000$ cash from the company's founders in exchange for common stock.

b$.$ Purchased land for $$15,500,$ signing a two$-$year note $($Ignore interest$).$

c$.$ Bought two used delivery trucks at the start of the year at a cost of $$12,000$ each; pald $$5,000$ cash and signed a note

due In three years for $$19,000($Ignore interest$).$

d$.$ Pald $$1,500$ cash to a truck repalr shop for a new motor, which Increased the cost of one of the trucks.

e$.$ Stockholder Ruby Lee pald $$350,000$ cash for a house for personal use.

Required:

Prepare a classified balance sheet for Laser Delivery Services at December $31.$ Include Retalned Earnings on the balance sheet

even though the account has a zero balance.

Answer is not complete.