1. What amount of net income would the company report in its financial statements?

2. total assets?

3. notes payable?

The Gryffin Company started operations this year and reported the following information at the end of the year (i.e. ending balances): Revenue $ 16,900 Equipment $10,500 Notes payable ? Cost of Goods Sold 12,600 Cash 1,650 2,400 Payroll expense Inventory Common stock 10,000 850 Maintenance 750 Dividends 150 expense