Please answer both parts thank you !

Computing Retained Earnings and Net Income The following selected balance sheet amounts are from Aerial Inc. as of December 31, 2020. Selected Balance Sheet Amounts Assets Liabilities Cash $42,000 Accounts payable Accounts receivable 15,000 Note payable Supplies 11,400 Stockholders' equity Equipment 75,000 Common stock Paid-in capital in excess of par $ 14,400 30,000 30,000 15,000 Required $ a. Compute retained earnings as of December 31, 2020, assuming retained earnings is the only missing category in the selected balance sheet amounts above. b. Determine net income assuming that the balance in retained earnings on January 1, 2020, was $7,500; dividends declared during 2020 were $13,500; and no other items affected retained earnings during 2020. $