Retail Solutions Inc. presents the following balances:

• Cash: $85,000
• Accounts Receivable: $60,000
• Inventory: $90,000
• Prepaid Insurance: $10,000
• Accounts Payable: $35,000
• Notes Payable: $25,000
• Long-Term Debt: $100,000
• Common Stock: $120,000
• Retained Earnings, beginning of year: $80,000
• Sales Revenue: $400,000
• Cost of Goods Sold: $250,000
• Operating Expenses: $100,000
• Interest Expense: $10,000
• Tax Expense: $12,000

Requirements:

1. Calculate Retail Solutions Inc.'s net income.
2. Determine the total liabilities.
3. Compute the debt-to-equity ratio.
4. Find the ending retained earnings.