6. Fullowing is financial information from Johnson & Johnson for a recent fiscal yoar Retained earnings, January 1 $35,223 10,411 370) Dividends Retained earmings, Docember 31 $3,793 Net Earnings Other retained earmings changes what is the retained earnings balance at December 31? a. $24.442 million b. S31.430 millian c. S41.471 million d. $49,057 mill on 7. Daniels Company reports the following year-end account halancos at December 31, 2017 Accounts payable Accounts receivable Bonds payable, long-tam..$250,000 Buildings $20,000 $40,000 S40,000 $100,000 $10,000 Inventory $160,000 $50,000 $100.000 $200,000 $80,000 Goodwl Retained eamings Sales revenue Supplies inventory . . . . Supplies expense. Cornrnon stock Cost of goods sold . Equipmen 55,000 $20,000 .. 5100,000 Whal is Daniels Campany's net income for 2017? a. $380,000 b. $375,000 c $180.00 d. $300,000 8. Identify which of the following accounts would appear as assets in the balance sheet? A. Dividends B. Retaincd arninga C. Prepaid insurance D. Goodwill E. Deferred rovenue F. Wages payable G. Cash H. Interast payable Marketable securities a. b. c. d. C, D, G, I A, C, D, E B, C. E. H C, D, E, G Cambvidge Business Publishars, 2018 2-3 Practice Cuiz, Module 2