Question 2 817 The financial statements of Pina Colada Ltd. include the following items at December 31, 2025. Accounts payable $21,460 Income tax expense $5,260 Accounts receivable 21,240 Interest expense 4,630 Accumulated depreciation-buildings 51,590 Interest payable 2,120 Accumulated depreciation-equipment 21,910 Land 197,880 Buildings 136,520 Long-term investments 29,570 Cash 24,510 Mortgage payable 106,080 Common stock 142,800 Operating expenses 161,810 Equipment 67,400 Prepaid insurance 1,470 (a) Your answer is incorrect. Retained earnings, January 1 118,850 Service revenue Supplies Calculate net income and the ending balance of retained earnings at December 31, 2025. Net income Ending balance of retained earnings eTextbook and Media $ $ MacBook Pro > Did 186,690 1,210 07