e. what is the everage income tax rate for Pope's Garage for 2016? (%)

f. If $16,000 of dividends had been declared and paid during the year, what was the Jauary 1, 2016 balance of Retained Earnings?

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 $ 32,000 10,300 26,400 89.000 62,700 9,500 68.000 5,700 21,100 29,100 3,000 7.000 15,216 43,000 37,000 13,400 29,200 150,000 Accounts receivable Depreciation expense Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Income tax expensee Accumulated depreciation Long-term debt es ex Merchandise inventory Sales revenue Required a. Calculate the total current assets at December 31, 2016 otal current assets b. Calculate the total liabilities and stockholders' equity at December 31, 2016 Total liabilities and stockholders c. Calculate the earnings from operations (operating income) for the year ended December 31, 2016 income d. Calculate the net income (or loss) for the year ended December 31, 2016