1. The following account information was taken from the unadjusted trial balance at the end of April 2018 for Happy Cat Sushi restaurant located in Atlantic City, New Jersey.

Happy Cat Account Data
Cash	$36,300
Accounts Receivable	$4,500
Truck (Delivery)	$12,000
Supplies	$5,400
Restaurant Revenue	$11,900
Common Stock	$29,500
Retained Earnings (04/01/2018) Dividends Gasoline Expense	$22,600 $2,100 $700
Utilities Expense	$1,900
Salary Expense	$4,500
Miscellaneous Expense	$2,400
Accounts Payable	$5,800

The total amount of liabilities that Happy Cat has on the books is?

	A.	$6,500
	B.	$3,000
	C.	$5,800
	D.	None of the other answers

2. PLEASE REFER BACK TO THE INFORMATION GIVEN ABOUT THE HAPPY CAT RESTAURANT If Kim Xian, the accountant for Happy Cat Restaurant, prepares a simple income statement for the month ending April 30, 2018 what will be the outcome?

	A.	Net Income will be $2,400
	B.	None of the other answers
	C.	Net Loss will be $3,500
	D.	Total Assets will be $58,200
	E.	Net Income will be $3,500

3. PLEASE REFER BACK TO THE INFORMATION REGARDING HAPPY CAT RESTAURANT AND THE CORRECT ANSWERS TO PREVIOUS QUESTIONS...

Prepare the Statement of Retained Earnings for Happy Cat Restaurant for the month ending April 30, 2018. What would be the Retained Earnings balance?

		None of the other answers
		$22,600
		$22,900
		$46,500
		$46,800