Please help me solve this part b and c. Can you show work I do not understand the formulas used to calculate

For December 31, 20x1, the balance sheet of Baxter Corporation was as follows $ 16,000 24,000 tock Current Assets Cash Accounts receivable Inventory Prepaid expenses Pixed Assets Gross plant and equipment Les Acousted depreciation et plant and spent Total ACES Liabilities 14,000 Accounts payable 19,000 Notes payable 29,000 Bonde payable 12,300 Stockholders' Monty 251.000 Preferred stock (50, 100) Common atook Paid in Capital 5 203,200 Retained earning $277.600 Total llities and cockholders' equity $29.000 59.000 29.000 21,600 5277,600 Sales for 20x2 were $240,000 and the cost of goods sold was 60 percent of sales Selling and administrative expense was $24.00 Depreciation expense was 12 percent of plant and equipment (oross) at the beginning of the year. Interest expense for the notes payable was 8 percent, while the interest rate on the bonds payable was 16 percent. This interest expense is based on December 31 20x1 balances. The tax rate averaged 30 percent 52.400 in preferred stock dividends were paid, and $5,312 in dividends were paid to common stockholders. There were 10,000 share of common stock outstanding Sales for 20x2 were $240,000, and the cost of goods sold was 60 percent of sales. Selling and administrative expense was $24,000 Depreciation expense was 12 percent of plant and equipment (gross) at the beginning of the year Interest expense for the notes payable was 8 percent, while the interest rate on the bonds payable was 16 percent. This interest expense is based on December 31, 20x1 balances. The tax rate averaged 30 percent $2.400 in preferred stock dividends were paid, and $5.312 in dividends were paid to common stockholders. There were 10,000 shares of common stock outstanding During 20x2, the cash balance and prepaid expenses balances were unchanged Accounts receivable and inventory increased by 8 percent A new machine was purchased on December 31, 20x2, at a cost of $39.000 Accounts payable increased by 25 percent Notes payable increased by $6,400 and bonds payable decreased by $12,000, both at the end of the year. The preferred stock, common stock, and capital paid in excess of par accounts did not change. b. Prepare a statement of retained earnings for 20X2. Baxter Corporation 20X2 Statement of Retained Earnings Retained earnings balance, January 1, 20X2 Add: Earnings available to common stockholders, 20X2 Less Cash dividend declared in 20X2 Retained earnings balance, December 31, 20X2 c. Prepare a balance sheet as of December 31, 20x2 (Amounts to be deducted should be indicated with parentheses or a minus sign.) Baxter Corporation 20x2 Balance Sheet Liabilities and Stockholders' Equity Assets Current Assets Total current assets 0 Total liabilities S 0 Stockholders' Equity Foxed assets Net plant and equipment 5 0 Total stockholders equity Total abilities and stockholders' equity 0 Total assets 5 USU 0