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A company's trial balance as of December 31, 20X44, is as follows: Account Debit (Dr) Credit (Cr) Cash $190,000 Accounts Receivable $210,000 Inventory $220,000 Prepaid

A company's trial balance as of December 31, 20X44, is as follows:

AccountDebit (Dr)Credit (Cr)
Cash$190,000
Accounts Receivable$210,000
Inventory$220,000
Prepaid Expenses$150,000
Property, Plant & Equipment$1,600,000
Accumulated Depreciation$290,000
Accounts Payable$310,000
Notes Payable$500,000
Common Stock$640,000
Retained Earnings$860,000
Sales Revenue$1,900,000
Cost of Goods Sold$950,000
Operating Expenses$520,000
Income Tax Expense$280,000
Dividends$220,000

Calculate the following:

  1. Gross Profit
  2. Total Assets
  3. Total Liabilities
  4. Total Equity

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