ABC Co. has the following adjusted accounts on December 31, 2019, the end of their first year in business.

A. Calculate the net income for the year.

B. Calculate the capital as of 12/31/2019.

C. Calculate the total assets for the year.

D. Calculate the current ratio (round to one decimal)

(enter your answers in the exact order a-d)

Accounts Receivable	12,357
Loan	40,000
Drawing	24,000
Salaries Expense	38,000
Notes Payable	2,000
Cash	8,654
Rent Expense	12,000
Capital	29,748
Supplies	600
Accounts Payable	8,965
Petty Cash	200
Prepaid Rent	1,000
Phone Expense	2,400
Unearned Revenue	1,000
Supply Expense	2,000
Equipment	15,000
Sales Revenue	132,098
Depreciation Expense	3,000
Land	20,000
Advertising Expense	13,400
Accumulated Depreciation	6,000
Notes Receivable	3,000
Inventory	45,300
Misc Expense	18,900