The following information is available from the records of prestigeLandscape Design Inc. at the end of the 2008 calendar year. accounts payable $5,000 accounts receivable 4,500 capitalstock 8,000 cash 13,000 dividends paid during the year 3,000 landscapingrevenues $25,000 officeequipment 7,500 rentexpense 6,500 retained earnings,beginning of year 8,500 salary and wageexpense 12,000 Required: Use the previous information to answer the following questions. 1. What is Prestige's net income for the year ended December31,2008? 2. What is Prestige's retained income earning balance at the end ofthe year? 3. What is the total amount of Prestige's assets at the end of theyear? 4. What is the total amount of Prestige's liabilities at the end ofthe year? 5. How much owners' equity does Prestige have at the end of theyear? 6. What is Prestige's accounting equation at December 31,2008