These items are taken from the financial statements of Sandhill Ltd. at December 31, 2021: Accounts payable Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment Buildings Cash Common shares Equipment Income tax expense Interest expense Interest payable Land Long-term investments Mortgage payable Operating expenses Prepaid insurance Retained earnings, January 1 Service revenue Supplies $20,050 18,780 49,600 20,470 131,800 26.040 144,000 70,100 6.100 6,200 3.400 197,970 26,970 107.000 157.680 1.700 115.520 185,040 1.740 Calculate net income and the ending balance of retained earnings at December 31, 2021. Net income tA Retained Earnings $ List of Accounts quipment in order of Land, Buildings, and Equipment.) SANDHILL LTD. Statement of Financial Position Assets