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Gary's TV had the following accounts and amounts in its financial statements on December 31,2022 . Assume that all balance sheet items reflect account balances
Gary's TV had the following accounts and amounts in its financial statements on December 31,2022 . Assume that all balance sheet items reflect account balances at December 31,2022 , and that all income statement items reflect activities that occurred during the year then ended. Required: o. Calculate the difference between current assets and current liabilities for Gary's TV at December 31, 2022. b. Calculate the total assets at December 31,2022 . c. Calculate the eamings from operations (operating income) for the year ended December 31, 2022 . d. Calculate the net income (or loss) for the year ended December 31, 2022 e. What was the average income tax rate for Gary's TV for 2022 ? f. If $32,000 of dividends had been declared and paid during the year, what was the January 1,2022 , balance of retained earnings
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