Net Income (or Loss) and Retained Earnings The following information is available from the records of Bright Gardens Inc. at the end of the year: Accounts payable Accounts receivable Capital stock Cash Dividends paid during the year 3,000 Salary and wage expense $5,000 Landscaping revenues 4,500 8,000 14,500 Office equipment Rent expense Retained earnings, beginning of year $26,500 7,500 6,500 8,500 12,000 Required: Use the above information to answer the following questions. 1. What is Bright Gardens' net income for the year? 2. What is Bright Gardens' Retained Earnings balance at the end of the year? 3. What is the total amount of Bright Gardens' assets at the end of the year? 4. What is the total amount of Bright Gardens' liabilities at the end of the year? Check My Work