1.If the current account balances are:

Cash = 5,000

Inventory = 7,500

Accounts Payable = 6,000

Long Term debt = 25,000

Retained Earnings = 15,000

Calculate the current liabilities.

2. If the current account balances are:

Cash = 2,000

Accounts Receivable = $500

Accounts Payable = $750

Common Equity = $2,000

Fixed Assets = 1,500

Calculate the current assets.

3. If earnings before taxes (EBT) are 175,000, net sales (all on credit) are 315,000, dividends are

25,000 and net income is 90,000, what is the tax expense.

4. If net sales are 45,000, accounts receivable is 2,000, depreciation expense is 5,000 and cost of goods sold is 4,000, calculate the gross profit:

5.Roberts Company year end balance sheet lists current assets of 435,200, fixed assets of 550,800, current liabilities of 416,600 and long term debt of 314,500. Calculate Roberts Company total shareholders equity.