Gary's TV had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year then ended $ Interest expense Paid-in capital Accumulated depreciation Notes payable (long-term) Rent expense Merchandise inventory Accounts receivable Depreciation expense Land Retained earnings Cash Cost of goods sold Equipment Income tax expense Accounts payable Net sales 5,200 15,600 4,400 49,000 11.10 120,000 38,500 2.200 33,000 148,500 29,000 234,000 24,000 51,000 27.000 380,000 Required: a. Calculate the difference between current assets and current liabilities for Gary's TV at December 31, 2019 b. Calculate the total assets at December 31, 2019 c. Calculate the earnings from operations (operating income) for the year ended December 31, 2019, d. Calculate the net income (or loss) for the year ended December 31, 2019 e. What was the average income tax rate for Gary's TV for 2019? f. If $28,500 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings? a b Difference Total assets Operating income e Average Income tax rate Retained earnings