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ABC Corp. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2019, accounting records. The beginning retained earnings as
ABC Corp. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2019, accounting records. The beginning retained earnings as of January 1, 2019, was $23,100 and the owner, Loveleen Kaur, received dividends of $15,100 during the year. Prepare the balance sheet for ABC Corp. as of December 31, 2019. Please calculate the current ratio of the company and discuss what it means to the company $71,900 Service revenue Cash Accounts receivable Interest expense Supplies Accounts payable Utilities expense Furniture(Net of Depreciation) Salary payable Common shares Depreciation Expense $83,000 $9,200 $1,300 $154,900 $5,200 $45,000 $104, 100 $13,500 $9,000 Note payable Salary expense Interest pavable Rent expense $167,500 $30,200 $18,000 $1,600 $9,600 $12.900 $23,800 Automobiles Land
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