solve and details

1) The balance sheet of the Mercury Company reported assets of $85,000, liabilities of $27,000 and common stock of $18,000. Based on this information only, the amount or balance for retained earnings must be: A) $40,000 B) $20,000 C) $67,000 D) $58,000 2) Stosch Company's balance sheet reported assets of $50,000, liabilities of $25,000 and common stock of $5,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $18,000 and Stosch paid a $14,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following? A) $17,000 B) $19,000 C) $12,000 D) $21,000 3) If Ballard Company reported assets of $67,000 and liabilities of $22,200, Ballard's stockholders' equity equals: A) $48,400 B) $89,200 C) $44,700 D) $44,800 4) On January 1, Year 2, Chavez Company had beginning balances as follows: Assets Liabilities Common Stock HII $ 12,500 $ 4,500 $ 3,000 o b etanding rotinadorninn