I don't understand how you would find common stock or retained earnings. they say each person contributed 49,000 and received 4,000 shares of common stock?? how do you find them.

Required information [The following information applies to the questions displayed below.] Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2020. On that date, the following financial items for the year were determined: cash on hand and in the bank, $47,500; amounts due from customers from sales of books, $26,900, equipment, $48,000; amounts owed to publishers for books purchased, $8,000; one-year notes payable to a local bank for $2,850. No dividends were declared or paid to the stockholders during the year. Required: 1. Complete the following balance sheet at December 31, 2020. $ READER DIRECT Balance Sheet At December 31, 2020 Assets Liabilities Cash $ 47,500 Accounts Payable Accounts Receivable 26,900 Notes Payable Equipment 48,000 Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Assets $ 122,400 Total Liabilities and Stockholders' Equity *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect: no points deducted 8,000 2,850 10,850 0 X 0 X 0 10,850 $