Presented below is selected information related to Narrow Gage Company at = Calculate effects of December 31, 2014. Narrow Gage reports financial information monthly. transactions on financial statement items. Accounts Payable $ 3,000 Salaries and Wages Expense $16,500 (LO 8)

Cash 9,000 Notes Payable 25,000 Advertising Expense 6,000 Rent Expense 9,800 Service Revenue 54,000 - Accounts Receivable 13,500 Equipment 29,000 Dividends 7,500

(a) Determine the total assets of Narrow Gage Company at December 31, 2014.

(b) Determine the net income that Narrow Gage Company reported for December 2014.

(c) Determine the stockholders’ equity of Narrow Gage Company at December 31, 2014.