Example 4: The following items (in thousands) are taken from the financial statements of X Company for the year ending December 31, 2013: Accounts payable 15,000 Accounts receivable 11,000 Accumulated depreciation equipment 28,000 Advertising expense 21,000 Cash 8,000 Share capital ordinary 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 207,000 Insurance expense 3,000 Note payable, due 6/30/14 70,000 Prepaid insurance (12 month policy) 6,000 Rent expense 15,000 Retained earnings (1/1/13) 60,000 Salaries expense 34,000 Service revenue 133,000 Supplies 8,000 Supplies expense 9,000 What are the total current assets at the end of 2013? What are the total current liabilities at the end of the 2013? 3 What are the total noncurrent assets at the end of 2013? What is the Net income at the end of 2013? 5 What is the balance of retained earnings at 2013? What is the total equity of the end of the period? What is the book value of the equipment? What is the total plant, property and equipment? 9 What is the total of liabilities and equity at 20132 1 2 4 5 6 7 8