Insomniacs Coffee Ltd, a mobile coffee company, had the following account balances at the end of December 2020: Cash $119,000 Accounts payable 337,000 Dividends declared 181,000 Sales revenue 2,920,000 Inventory 306,000 Advertising expense 78,000 Common shares 101,000 Prepaid insurance 23,000 Wages expense 508,000 Equipment 1,249,000 Rent expense 180,000 Wages payable 45,000 Cost of goods sold 1.656,000 Depreciation expense 83,000 Loan payable 790,000 Interest expense 42,000 Accounts receivable 184,000 Retained earnings (as at January 1, 2019) 416,000 Current Assets Cash Accounts Receivable Inventory Prepaid Insurance Total Current Assets Non-Current Assets Equipment Total Assets Current Liabilities Insomniacs Coffee Ltd. Statement of Financial Position For the Month Ended December 31, 2020 Assets $ 119000 Liabilities & Shareholders' Equity 184000 306000 23000 632000 1249000 1881000 Current Liabilities Accounts Payable Wages Payable Total Current Liabilities Non-Current Liabilities Loan Payable Total Liabilities Shareholders' Equity Common Shares Retained Earnings Total Liabilities and Shareholders Equity Save for Later S Attempts: 0 of 1 used Submit