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. Interest expense Paid-in capital Accumulated depreciation Notes payable (long-term) Rent expense $ 5,300 16,400 4,600 51,000 11,400 Merchandise inventory 122,000 Accounts receivable 40,000 Depreciation expense 2,300 Land 35,000 Retained earnings 150,500 Cash 28,500 Cost of goods sold 236,000 Equipment 26,000 Income tax expense 54,000 Accounts payable Net sales 29,000 390,000 Required: a. 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 earnings 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 $28,000 of dividends had been declared and paid during the year, what was the January 1, 2022, balance of retained earnings? a. Difference b. Total assets C. Operating income d. e. Average income tax rate f. Retained earnings %