Young Company Reported the Following Balance Sheet for the End

Young Company reported the following balance sheet for the end of Year 1:
$\begin{array}{c}\text { Young Company }\\\text { Balance Sheet}\\\text { For the Year Ended December 31, Year 1}\\\begin{array}{lr}\text { Assets: }\\\\\text { Cash } & \$ 58,800 \\\text { Land } & \underline{ 25,500} \\\text { Total assets } & \underline{ \$ 84,300 }\\\text { Liabilities: }\\\\\text { Motes payable}&\\\text { stockholders' equity:}&\underline{\$18,000}\\\\\text { Common stock } & 50,000 \\\text { Retained earnings } & \underline{16,300} \\\text { Total stockholders' equity } & \underline{66,300 }\\\text { Total liabilities and stockholders' equity } & \underline{\$ 84,300}\end{array}\end{array}$
During Year 2, Young reported the following transactions:Repaid $9,000 to a local bank on a note payableProvided services to clients for $27,400 cashPaid operating expenses of $20,200Paid $4,500 cash dividends to stockholders
Required:
Prepare Young Company's balance sheet as of December 31, Year 2.