6 7 2 3 0 The following account balances are available for The Clothing Outlet, Inc., a discount retailer, as of and for the year eaded December 31, 2017, except for the retained earnings balance which is stated below as of January 1, 2017: $5,500,000 Cash.. $9,000,000 Accounts receivable. Marketable securities ..$14,000,000 ..$400,000 Prepaid insurance.. $4,000,000 Inventory... Equipment.. $7,000,000 Accumulated depreciation equipment... $3,000,000 Buildings..... $20,700,000 Accumulated depreciation buildings.....$5,000,000 Land....... $4,000,000 Investments (long-term). $4,000,000 Patents (net).. $800.000 Accounts payable.. $5,000,000 Income taxes payable. $1,600,000 Salaries payable.. $1,000,000 Dividends payable. $2,000,000 Interest payable $500,000 Notes payable (long-term) $2,400,000 Bonds payable (long term). $6,000,000 Common stock.... $10,100,000 Retained Earnings (as of Jan. 1, 2017)- $8,400,000 Dividends declared. $5,000,000 Sales... $108,000,000 Cost of goods sold.. $32,600,000 Interest revenue... .$2,500,000 Interest expense.. .$1,500,000 Income tax expense......(calculated 40%) Selling expenses Sales salaries and commissions..........$6,000,000 Insurance expenso...... $1,800,000 Advertising expense..... $3,500,000 Utilities expense. $4,000,000 Depreciation expenses equipment. $400,000 Delivery expense. General and administrative expenses $500,000 Executive and administrative salaries.. $5.800.000 $4,200.000 $900,000 Depreciation expense buildings $500,000 Uulits expense..... Rental expenses QUESTION 8 278923 points Seve A Based on the Income statement of The Clothing Outlet Inc., provide the total Income Tax Expense amount for the 12-month period ending December 31, 2017 QUESTION 9 276923 points Save Ang Based on the income statement of The Clothing Outlet Inc., provide the total Net Income for the 12-month period ending December 31, 2017 QUESTION 10 276923 points Save Answ Based on the Income statement of The Clothing Outlet Inc., provide the income before Tax amount for the 12- month period ending December 31, 2017 QUESTION 11 2.76923 points Save Answer Based on the Balance Sheet for The Clothing Outlet Inc., calculate and provide the Total Liabilities at December 31, 2017 QUESTION 12 2.76923 points Save Answer Based on the financial statements of The Clothing Outlet Ino, provide the company's total Quick or Acid Ratio rounded to the nearest tonth at December 31, 2017