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[The following information applies to the questions displayed below] Laser Delivery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year:

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[The following information applies to the questions displayed below] Laser Delivery Services, Incorporated (LDS), was incorporated January 1. The following transactions occurred during the year: a. Recelved $40,000 cash from the company's founders in exchange for common stock. b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest). d. Paid $2,000 cash to a truck fepair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. -Prepare a classified balance sheet for Laser Delivery Services at December 31 . Include Retained Earnings on the balance sheet even though the account has a zero balance

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