Laser Delivery Services, Inc. (LDS). was incorporated January 1. The following transactions occurred during the year: a. Received $38,000 cash from the company's founders in exchange for common stock b. Purchased land for $14.500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each paid $4.000 cash and signed a note due in three years for $16,000 (ignore Interest). d. Paid $1,900 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $330,000 cash for a house for his personal use. Cash Equipment Beg Bal Beg Bal End. Bal End Bal Land Notes Payable Beg Bal Beg. Bal End Bal End Bal Common Stock Beg. Bal End. Bal 2 Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $38,000 cash from the company's founders in exchange for common stock b. Purchased land for $14.500, signing a two-year note (ignore interest) c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each: paid $4,000 cash and signed a note due in three years for $16,000 (ignore Interest). d. Paid $1,900 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks e. Stockholder Jonah Lee paid $330,000 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