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Gary's TV had the following accounts and amounts in its financlal statements on December 31, 2019. Assume that all balance sheet Items reflect account balances

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Gary's TV had the following accounts and amounts in its financlal 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 actliltles that occurred during the year then ended. Required: a. Calculate the dlfference between current assets and current llabilitles for Gary's TV at December 31, 2019. b. Calculate the total assets at December 31,2019. c. Calculate the eamings from operatlons (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 $30,500 of dividends had been declared and paid during the year, what was the January 1,2019 , balance of retained earnings

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