raking up account Prepare a post-closing trial balance. P3-10B. Balance Sheet and Net Income Determination At the beginning of the year, Acme Parking Ser. vices had the following balance sheet: A LOS Liabilities Accounts payable $16,500 ... Acc, Equatio Assets Cash Accounts receivable. Land. Entries into $ 6,400 18,700 62,500 Stockholders' Equity Common stock Retained earnings Total Liabilities and Stockholders' Equity. 63,000 8,100 Put Total Assets ... $87,600 $87,600 a. At the end of the year, Acme Parking Services had the following assets and liabilities: Cash, $9.200: Accounts Receivable, $18,400: Land, $62,500; and Accounts Payable, $11,750. Prepare a year-end balance sheet for Luxury Parking Services assuming that no additional stock was issued. b. Assuming that stockholders did not invest any money in the business during the year but received a $12,000 dividend, what was the company's net income or net loss for the year? come 3- TUB. Bala vices Ass Do lournals Entries Cas Acc Lan into Acc Equation 2 Put Tota