Listed in random order are the items to be included in the balance sheet of Rocky Mountain Lodge at December 31, year 1. Equipment Land Accounts payable Accounts receivable Salaries payable Interest payable $47,040 510,000 65,760 12,720 40,200 14,400 Buildings Capital stock Cash Furnishings Snowmobiles Notes payable Retained earnings $600,000 162,000 37,680 70,440 18,480 744,000 ? Required: a-1. Compute the amount to be shown for retained earnings. a-2. Prepare a balance sheet at December 31, year 1 b. Assume that no payment is due on the notes payable until year 3. Does this balance sheet indicate that the company is in a strong financial position as of December 31, year 1? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Assume that no payment is due on the notes payable until year 3. Does this balance sheet indicate that the company is in a strong financial position as of December 31, year 1? Yes Ono