1. What are total revenues? 2. What is Net Income? 3. What are total assets? 4. Do liabilities + equity accounts = total assets? If not, by how much are you off? Account Balance Accounts Payable 11,750 Accounts Receivable 15,770 Advertising Expense 4,400 Capital (50,000 shares; $0.25/share) 12,500 Cash 47,500 Cost of Goods Sold 26,880 Fixed Assets 35,650 Interest Expense 2,015 Inventory 5,320 Loans Outstanding (ST) 42,200 Rent Expense 24,000 Retained Earnings 21,070 Revenue 81,000 Supplies Expense 6,985