Backus Company had the following account balances for the year ended December 31, 2019: Accounts Payable $ 45,000 $ 160,000 Income Taxes Payable Accounts Receivable 130,000 Income Taxes Expense 90,000 Accumulated Depreciation 285,000 Interest Expense 5,000 Cash 220,000 Inventories 180,000 Common Shares 160,000 Loan Payable, due December 31, 2024 120,000 Cost of Goods Sold 360,000 Prepaid Expense 30,000 Retained Eamings, at January 1, Deferred Revenue 50,000 2019 270,000 Depreciation Expense 70,000 Dividend 390,000 35,000 Sales Revenue Equipment 1,080,000 580,000 Utility Expense 20,000 Assuming that the Net Income of year 2019 was $215,000, what is the amount of Retained Earnings at December 31, 2019? Salaries Expense $450,000 O $180,000 $235,000. $485,000. Backus Company had the following account balances for the year ended December 31, 2019: Accounts Payable $ 160,000 Income Taxes Payable $ 45,000 Accounts Receivable 130,000 Income Taxes Expense 90,000 Accumulated Depreciation 285,000 Interest Expense 5,000 Cash 220,000 Inventories 180,000 Common Shares 160,000 Loan Payable, due December 31, 2024 120,000 Cost of Goods Sold 360,000 Prepaid Expense 30,000 Retained Earnings, at January 1, Deferred Revenue 50,000 2019 270,000 Depreciation Expense 70,000 Salaries Expense 390,000 Dividend 35,000 Sales Revenue 1,080,000 Equipment 580,000 Utility Expense 20,000 What is the amount of Total Liabilities at December 31, 2019? O $355,000. $375,000 $405,000 $325,000 1 Backus Company had the following account balances for the year ended December 31, 2019: Accounts Payable $ 45,000 $ 160,000 Income Taxes Payable Accounts Receivable 90,000 130,000 Income Taxes Expense Accumulated Depreciation 285,000 Interest Expense 5,000 Cash 220,000 Inventories 180,000 Common Shares 160,000 Loan Payable, due December 31, 2024 120,000 Cost of Goods Sold 360,000 Prepaid Expense 30,000 Retained Earnings, at January 1, Deferred Revenue 50,000 2019 270,000 Depreciation Expense 70,000 390,000 Dividend 35,000 Sales Revenue Equipment 1,080,000 580,000 Utility Expense 20,000 What is the amount of Total Expenses for year ended at December 31, 2019? Salaries Expense $935,000 $ $605,000. $965,000. $575,000. Backus Company had the following account balances for the year ended December 31, 2019: Accounts Payable $ 160,000 Income Taxes Payable $ 45,000 Accounts Receivable 130,000 Income Taxes Expense 90,000 Accumulated Depreciation 285,000 Interest Expense 5,000 Cash 220,000 Inventories 180,000 Common Shares 160,000 Loan Payable, due December 31, 2024 120,000 Cost of Goods Sold 360,000 Prepaid Expense 30,000 Retained Earnings, at January 1, Deferred Revenue 50,000 2019 270,000 Depreciation Expense 70,000 Dividend 390,000 35,000 Sales Revenue Equipment 1,080,000 580,000 20,000 What is the amount of Gross Profit for year ended at December 31, 2019? Salaries Expense Utility Expense $800,000 $ $770,000 O $750,000 $720,000 Backus Company had the following account balances for the year ended December 31, 2019: Accounts Payable $ 45,000 $ 160,000 Income Taxes Payable Accounts Receivable 90,000 130,000 Income Taxes Expense Accumulated Depreciation 285,000 Interest Expense 5,000 Cash 220,000 Inventories 180,000 Common Shares 160,000 Loan Payable, due December 31, 2024 120,000 Cost of Goods Sold 360,000 Prepaid Expense 30,000 Retained Earnings, at January 1, Deferred Revenue 50,000 2019 270,000 Depreciation Expense 70,000 Salaries Expense 390,000 Dividend 35,000 Sales Revenue Equipment 1,080,000 580,000 Utility Expense 20,000 What is the amount of Total Expenses for year ended at December 31, 2019? $935,000 $605,000 $965,000. $575,000 $
