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E) Company Belkin Inc, shows the following Balance Sheet. Assets Liabilities & SHE Cash 5000 Accounts payable 5000 Prepaid rent 1000 Salaries payable 2000 Unexpired

E) Company Belkin Inc, shows the following Balance Sheet.

Assets

Liabilities & SHE

Cash

5000

Accounts payable

5000

Prepaid rent

1000

Salaries payable

2000

Unexpired insurance

4000

Unearned revenue

3000

Accounts receivable

6000

Income taxes payable

5000

Supplies

5000

Current assets

21000

Current liabilities

15000

Notes payable

55000

Automobile

50000

Total liabilities:

70000

Accoumulated depreciation: auto

-10000

40000

Stockholders` Equity:

Equipment and music

40000

Capital stock

3000

Accoumulated depreciation: equipment

-11000

29000

Retained earnings

Total stockholders` equity

Total assets

90000

Total liabilities and stockholders` equity

90000

Which is the amount of retained earnings?

What is the net book value of the company?

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