20.High Step Shoes had annual revenues of $201,000, expenses of $111,700, and paid dividends of $24,400 during the current year. The retained earnings account before closing had a balance of $313,000. The Net Income for the year is: a)$64,900 b)$402,300 c)$89,300 d)$377,900 e)$201,000 21.At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $267,000 and Total Liabilities of $20,600 and Total Paid-in capital of $82,400. During the year, the company reported total revenues of $314,000 and expenses of $243,000. Also, dividends during the year totaled $64,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: a)$232,000 b)$171,000 c)$168,000 d)$165,000 e)$268,000 22.Use the information in the adjusted trial balance presented below to calculate the current ratio for Wicked Wicker Company:a)3.92 b)1.60 c).54 d)1.77 e)1.87

Account Title Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings Totals Dr. Cr. $ 23,000 16,000 6,600 100,000 $ 50,000 95,000 17,000 2,400 5,000 30,000 136,200 $ 240,600 $240,600