Marvin's Tax Service had eamed--but not yet recorded the following client service revenue at the end of the current accounting period: BRIEF EXERCISE 4.5 Accruing Uncollected Revenue Account Number Account #4067 Account #3940 Account #1852 Billable Hours 10 14 16 Hourly Billing Rate $85 $75 $90 Prepare the necessary adjusting entry to record Marvin's unbilled client service revenue Summary: Liabilities and Equity on a Balance Sheet Use the following information to answer the questions. A company reports the following on its balance sheet: Cash: $10,000 Accounts receivable: $20,000 Inventory: $14,000 Prepaid expenses: $3,000 Property, plant, and equipment: $35,000 Accumulated depreciation: $2,000 Accounts payable: $5,000 Accrued expenses: $6,000 Short-term notes: $7,000 Long-term notes: $10,000 Capital stock: $40,000 Retained earnings: $12,000 1. What are the company's total liabilities? 2. What is the company's total equity