cdeTobse718e Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2016. Assume that all balance sheet items reflect account balances at December 31 2016, and that all income statement items reflect activities that occurred during the year then ended Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash $ 31,100 11,800 25,800 85,000 66,000 9,100 70,000 5,800 21,500 26,200 1,000 6,000 22,596 41.000 36,000 13,700 28,700 166,000 Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Sales revenue Required: a. Calculate the total current assets at December 31, 2016. Total current assets b. Calculate the total liabilities and stockholders' equity at December 31, 2016 Tol bs and stockholders' equity c. Calculate the earnings from operations (operating income) for the year ended December 31, 2016. Operating income d. Calculate the net income (or loss) for the year ended December 31, 2016. e. What was the average income tax rate for Pope's Garage for 2016? Average income tax rate f. If $18,500 of dividends had been declared and paid during the year, what was the January 1, 2016, balance of retained eamings? Retained eanings