1. calculate careicos 2011 income before taxes.

2.what is the accounts payable equal?

3.explain the underlying principles behind why the three accounts exist.

Revenue Recognition and Matching Carrico Advertising, Inc. performs advertising services for several Fortune 500 companies, The following information describes Carrico's activities during 2011. a. At the beginning of 2011, customers owed Carrico $45,800 for advertising services performed during 2010. During 2011, Carrico performed an additional $696,300 of advertising services on account. Carrico collected $708,700 cash from customers during 2011. b. At the beginning of 2011, Carrico had $13,430 of supplies on hand for which it owed suppliers $8,150, During 2011, Carrico purchased an additional $14,600 of supplies on account. Carrico also paid $19,300 cash owed to suppliers for goods previously purchased on credit. Carrico had $2,230 of supplies on hand at the end of 2011. c. Carrico's 2011 operating and interest expenses were $437,600 and $126,700, respectively. Required: 1. Calculate Carrico's 2011 income before taxes. 2. Calculate the amount of Carrico's accounts receivable, supplies, and accounts payable at December 31, 2011. Accounts receivable 33400 Supplies 2230 Accounts payable $ Conceptual Connection: Explain the underlying principles behind why the three accounts exist The input in the box below will not be graded, but may be reviewed and considered by your instructor blank