- Menu Constructing Balance Sheets and Determining Income Following is balance sheet information for Lynch Services at the end of 2014 and 2015. December 31, 2015 December 31, 2014 $20,250 45,000 74,250 90,000 585,000 $13,500 Accounts Payable Cash Accounts Receivable Land Building Equipment Mortgage Payable Supplies Common Stock Retained Earnings 51,750 94,500 90,000 562,500 96,750101,250 202,500 45,000 495,000 495,000 225,000 a. Prepare balance sheets at December 31 of each year. LYNCH SERVICES BALANCE SHEETS December 31 2015 2014 Assets Accounts Receivable Building