1. Calculate the net income

2. Calculate the ending retained earnings

3. Calculate total assets

4. Calculate total CURRENT liabilities

THE FOLLOWING INFORMATION APPLIES TO THE QUESTIONS ON THIS P, - Accounts payable: $20,000 - Accounts receivable: $40,000 - Accumulated depreciation - Buildings and equipment: $80,000 - Buildings and equipment: $290,000 - Cash: $10,000 - Common stock: $70,000 - Cost of goods sold: $100,000 - Depreciation expense: $30,000 - Dividends: $50,000 - Inventory: $40,000 - Long-term notes payable: $90,000 - Retained earnings (beginning balance): $60,000 - Service revenue: $280,000 - Supplies: $5,000 - Supplies expense: $25,000 - Unearned revenue: $50,000 - Wage expense: $60,000