These items are taken from the financial statements of Blossom Ltd. at December 31, 2021:

Accounts payable		$19,050
Accounts receivable		18,780
Accumulated depreciationbuildings		48,600
Accumulated depreciationequipment		19,470
Buildings		131,800
Cash		22,040
Common shares		138,000
Equipment		64,100
Income tax expense		5,000
Interest expense		4,000
Interest payable		2,100
Land		192,770
Long-term investments		26,970
Mortgage payable		102,000
Operating expenses		156,680
Prepaid insurance		1,400
Retained earnings, January 1		114,520
Service revenue		181,040
Supplies		1,240

(a)

Calculate net income and the ending balance of retained earnings at December 31, 2021.

Net income	$
Retained Earnings	$

(I will be posting part b once I am able to answer part a. Please keep in touch.)