W JUNI Constructing Balance Sheets and Determining Income Following is balance sheet information for Lynch Services at the end of 2014 and 2015. December 31, December 31, 2015 2014 Accounts Payable $13,500 $20,250 Cash 51,750 45,000 Accounts Receivable 94.500 74,250 Land 90,000 90,000 Building 562,500 585,000 Equipment 96,750 101.250 Mortgage Payable 202.500 225.000 Supplies 45,000 40.500 Common Stock 495,000 495,000 Retained Earnings 2 ? a. Prepare balance sheets at December 31 of each year. LYNCH SERVICES BALANCE SHEETS December 31 2015 2014 Assets . s Accounts Receivable Supplies Building Equipment Total Assets Liabilities 5 $ Mortgage Payable And Hello esc & December 31 2015 2014 Assets 5 Accounts Receivable Supplies Building Equipment Total Assets Liabilities $ $ Mortgage Payable Total Liabilities Stockholders' Equity . Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ b. The firm declared and paid a cash dividend of $7,500 in December 2015. Compute its net income for 2015