A set of financial statements for RabbitRabbit Company follows: Requirement Fill in the missing amounts (indicated with question marks).

Requirement 1. Fill in the missing amounts. Begin by completing the income statement.

Rabbit Company Income Statement For the Year Ended December 31, 2012 525,000 Cost of goods sold 165,000 55,000 Administrative expenses .. 5,000 42,000 Income tax expense.. Rabbit Company Balance Sheet At December 31, 2012 $? Accounts payable ...$13,500 13,800 Note payable 9,600 .. . Inventory... 48,000 . . - 976,000 Contributed capital .. 640,000 Retained earnings. .. $1,141,800