E1-2 Use the data below to construct the four financial statements in proper form, Then, answer questions a to d below. a) b) c) d) Assets $79,500 Retained Earnings, beginning $20,500 Liabilities 18,500 Retained Earnings, ending ? Shareholder Equity 61,000 Cash from Operations 15,700 Revenue 32,100 Cash from Investing (7,200) Expenses 18,950 Cash from Financing (5,300) Net Income ? Cash, beginning of year 3,200 Dividends declared 4,900 Cash, end of year ? a) What was the ending balance TOTAL of the balance sheet? b) Is net income positive or negative? c) How much income was retained in the firm this year? in total for all prior years? d) What increased the balance of Cash held by the firm? BALANCE SHEET INCOME STATEMENT RETAINED EARNINGS CASH FLOW STATEMENT