Question
4 55 nts eBook Print references Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest
4 55 nts eBook Print references Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales $ 99,000 36,000 81,099 279,000 177,999 27.999 213,000 18,000 69,000 60,000 12,000 30,000 36,000 135,000 120,000 42,000 93,000 420,000 Required: a. Calculate the total current assets at December 31, 2019 b. Calculate the total liabilities and stockholders' equity at December 31, 2019. c. Calculate the earnings from operations (operating income) for the year ended December 31, 2019 d. Calculate the net income (or loss) for the year ended December 31, 2019. e. What was the average income tax rate for Pope's Garage for 2019? f. If $48,000 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings? Check my work
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