Required information [The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $36,000 cash from the company's founders in exchange for common stock. b. Purchased land for $10,500, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $12,000 each: paid $3,500 cash and signed a note due in three years for $20,500 (ignore interest). d. Paid $1,100 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e Stockholder Jonah Lee paid $250,000 cash for a house for his personal use. 4. Prepare a classified balance sheet for LDS at December 31. Include Retained Earnings on the balance sheet even though the account has a zero balance. LASER DELIVERY SERVICES, INC. Balance Sheet At December 31 Current Assets Liabilities Assets Land $ 12,000 12,000 $ 12,000 $