The company had the following account balances at the end of December: Accounts Dividends Supplies Service revenue Beginning Retained earnings Utilities expense Common stock Salaries expense Accounts payable Cash Equipment Balances $50,000 2,000 688,000 112,000 65,000 350,000 430,000 35,000 40,000 2 15. $ 16. $. _What were total expenses for the year? _Calculate their net income for the year. Calculate their ending balance in Retained Earnings. 17. $ 18. $. What is their balance in stockholder's equity on 12/31. 19. $ What is the balance of the Equipment account. Use the following to answer questions 20-22 Determine ending retained earnings for years 1, 2 and 3. At the beginning of year 1, the retained earnings had a $0 balance Year Net Income Dividends Retained Earnings 1 $35,000 $10,000 2 89,000 25,000 152,000 50,000 20. 21. 22. 3