how is the retained earnings being calculated?

Stockholders' Equity Paid-in capital Preferred stock, $2, no-par, 250,000 shares authorized, Common stock, $1 par, 650 shares issued and outstanding $ 27,000 1,050,000 shares authorized, 1,900 shares issued and outstanding 1,900 28,900 Paid-in capital in excess of par-common Total paid-in capital 57,800 35,000 Retained earnings Total stockholders' equity $ 92,800 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. Journal Entry Date Accounts Debit Credit Apr 6 Cash 6,800 Common stock 200 Paid-in capital in excess of par-common Journal Entry 6,600 Date Accounts Debit Credit Apr 12 Cash 27,000 Preferred stock 27,000 Journal Entry Date Accounts Debit Credit Apr 14 Land bo 24,000 Common stock 1,700 Paid-in capital in excess of par-common 22,300 lailla i More Info 2018 Apr 6 Issued 200 shares of common stock to the promoters who organized the corporation, receiving cash of $6,800. 12 Issued 650 shares of preferred stock for cash of $27,000. 14 Issued 1,700 shares of common stock in exchange for land with a market value of $24,000. Print Done Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of Zuma's balance sheet at December 31, 2018. Assume that the company earned net income of $35,000 during this period Print Done he Inc