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Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $37,000 cash from the company's founders in exchange for common stock b. Purchased land for $11,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $13,000 each: paid $4.000 cash and signed a note due in three years for $22,000 (ignore interest). d. Paid $1,200 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks e. Stockholder Jonah Lee paid $260,000 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. Answer is not complete. LASER DELIVERY SERVICES, INC. Balance Sheet At Desember 31 Liabilities X Assets Current Assets Cash Accounts Receivable Total Current Assets Land Delivery Expense 0 0 Accounts Payable Notes Payable (short-term) Total Liabilities Stockholders' Equity Common Stock Retained Earnings 0 0 s Total Liabilities and Stockholders' Equity