The financial statements of Sarasota Ltd. include the following items at December 31, 2025. Accounts payable $22,720 Income tax expense $5,560 Accounts receivable 22,500 Interest expense 4,900 Accumulated depreciation-buildings 54,620 Interest payable 2,240 Accumulated depreciation-equipment 23,200 Land 209,520 Buildings 144,560 Lpng-term investments 31,310 Cash 25,950 Mortgage payable 112,320 Common stock 151,200 Operating expenses 171,320 Equipment 71,360 Prepaid insurance 1,560 Retained earnings, January 1 125,840 Service revenue 197,670 Supplies 1,270 (a) Calculate net income and the ending balance of retained earnings at December 31, 2025. (b) Net income Ending balance of retained earnings eTextbook and Media List of Accounts Save for Later Assista Attempts: 0 of 3 used Sul The parts of this question must be completed in order. This part will be available when you complete the part above