2. Which of the following is not a permanent account? a. Retained earnings. b. Unearned revenue. c. Dividends. d. Prepaid rent expense. 3. A company's January 1, 2020 balance sheet reported total assets of $120,000 and total liabilities of $40,000. During January 2020, the following transactions occurred: (A) the company issued stock and collected cash totaling $30,000; (B) the company paid an account payable of $6,000; (C) the company purchased supplies for $1,000 with cash; (D) the company purchased inventory for $60,000 paying $10,000 with cash and using an account payable for the balance. What is total stockholders' equity after the transactions above? a. $30,000. b. $80,000. c. $110,000. d. $194,000. 5. On December 31, 2020, XYZ's fiscal year end, a physical count of inventory revealed an inventory balance of $80,000. The following items were not yet included in the physical count: i. ii. iii. Merchandise shipped to a customer on 12/28 FOB destination (merchandise arrives at customer's location on 1/5/21) $3,000 Merchandise shipped to a customer on 12/29 FOB shipping point (merchandise arrives at customer's location on 1/2/21) $1,500 Merchandise purchased from a supplier, shipped FOB destination on 12/26, arrives on January 4, 2021 $6,000. Barrington's 2016 ending inventory should be: a. $80,000. b. $89,000. c. $83,000. d. $87,750