Darlington, Inc.s trial balance follows. Compute these amounts for the business: 1. Total assets 2. Total liabilities

Darlington, Inc.’s trial balance follows.

Compute these amounts for the business:
1. Total assets
2. Total liabilities
3. Net income or net loss duringDecember

Transcribed Image Text:

Darlington, Inc. Trial Balance December 31, 2012 Balance Debit Credit Account Title Accounts receivable Supplies Equipment S 4,500 18,000 2,500 21,000 45,000 S 25,000 22,000 15,000 11,000 53,600 Accounts payable Note payable Common stock Retained earnings Service revenue Salary expense Rent expense Utilities expense Total 25,000 9,000 1,600 $126,600 $126.600