Requirements 1. Identify each amount shown as an asset, liability, or stockholders' equity. 2. Prepare the company's income statement and statement of retained earnings for the ended May 31, 2018. 3. Prepare the company's balance sheet at May 31, 2018. 4. Answer these questions about the company: a. What was the profit or loss for the year? b. What was the increase or decrease of retained earnings for the year? c. What is the amount of economic resources on May 31, 2018? Print Done Presented here are the amounts of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses of Cardio King, Inc., at May 31, 2018. The items are listed in alphabetical order. (Click the icon to view the amounts.) The retained earnings balance of the business was $118,400 at May 31, 2017. Read the requirements. Building Asset Property tax expense. Cash Asset Rent expense.. Common stock Stockholders' equity Salaries expense Dividends Stockholders' equity Equipment.. Asset Insurance expense Stockholders' equity Salaries payable Service revenue.. Supplies... Asset Liability Asset