The following is balance sheet information for Lynch Janitorial Service, Inc., at the end of 2016 and 2015: December 31, December 31, 2016 2015 Accounts Payable $6,000 Cash Accounts Receivable Land Building, net Equipment, net Mortgage Payable Supplies Common Stock 27,000 42,000 40,000 250,000 45,000 105,000 20,000 200,000 15,000 $9,000 20,000 33,000 40,000 260,000 50,000 120,000 18,000 200,000 Dividends 0 Retained Earnings ? ? a. Prepare a balance sheet as of December 31 of each year. LYNCH JANITORIAL SERVICE, INC. Balance Sheet December 31, December 31, 2016 2015 ASSETS Cash $ 0 $ 0 Accounts Receivable 0 0 Supplies 0 0 Land 0 0 Building, net 0 0 Equipment, net 0 0 Total Assets $ 0 $ 0 LIABILITIES Accounts Payable $ 0 $ 0 Mortgage Payable 0 0 Total Liabilities 0 0 STOCKHOLDERS' EQUITY Common Stock 0 0 Retained Earnings 0 0 Total Stockholders' Equity 0 0 Total Liabilities and Stockholders' Equity $ 0 $ 0 b. Prepare a statement of stockholders' equity for 2016. (Hint: The increase in retained earnings is equal to net income less dividends.) LYNCH JANITORIAL SERVICE, INC. Statement of Stockholders' Equity For Year Ended December 31, 2016 CommonStock Retained Earnings Total Balance, December 31, 2015 $ 0 $ 0 $ Add: Net income for 2016 0 0 Less: Dividends for 2016(Enter as negative) 0 Balance, December 31, 2016 $ 0 $ 0 $ 0 0 0 0 0