The trial balance of Amusement Specialties Inc. follows:

Sue Sibalius, your best friend, is considering investing in Amusement Specialties Inc. She seeks your advice in interpreting this information. Specifically, she wants to know the company's total assets, total liabilities, and net income or net loss for the year, as well as how to compute these amounts.
{Requirement}
Write a short note to answer Sue's questions

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- 3 2 Cash A Amusement Specialties Inc. Trial Balance December 31, 2020 Accounts receivable $ 14,000 11,000 C D 4 Prepaid expenses 5 6 Equipment Building 4,000 171,000 100,000 7 Accounts payable 8 Note payable 9 Share capital $ 30,000 120,000 102,000 10 Retained earnings 40,000 11 Dividends 22,000 12 Service revenue 86,000 13 Rent expense 14,000 15 Wage expense 14 Advertising expense 16 Supplies expense 3,000 32,000 7,000 17 Total 18 $ 378,000 $378,000