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Im doing this wrong im not sure how to complete this balance sheet. Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions

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Im doing this wrong im not sure how to complete this balance sheet.

Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $50,000 cash from the company's founders in exchange for common stock. b. Purchased land for $17,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $15,000 each; paid $2,500 cash and signed a note due in three years for $27,500 (ignore interest). d. Paid $2,500 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $380,000 cash for a house for his personal use. 4. Prepare a classified balance sheet for LDS at December 31. Include Retained Earnings on the balance sheet even though the account has a zero balance. LASER DELIVERY SERVICES, INC. Balance Sheet For the Month Ended December 31 Assets Liabilities Current Assets Cash Notes Payable (long-term) $ 44,500 Total Current Assets 44,500 Stockholders' Equity Common Stock | $ 0 Total Liabilities and Stockholders' Equity $ 44,500

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