nics Inc. reported the following items on its December 31, 2011, trial balance $108, 900 ,500 28,800 25, 800 7,500 555,000 22, 500 3, 900 Accounts Payable Advances to Employees Unearned Rent Revenue Estimated Liability Under Warranties Cash Surrender Value of Officers' Life Insurance Bonds Payable Discount on Bonds Payable Trademarks The amount that should be recorded on Maryk's balance sheet as total liabilities is a. $700,500. b. $696,000 c. $741,000. d. $703,500. 5. Baggins Company prepared a draft of its 2011 balance sheet. The draft statement reported total assets of $437,500. Included in this total assets figure were the following items: Treasury stock of Baggins Company at cost, which approximates market value on December 31 Unamortized patents Cash surrender value of life insurance on corporate executives Unrealized holding losses on available-for-sale $12,000 5, 600 6,850 4,200 securities At which amount should Baggins' total assets be correctly reported in the December 31, 2011, balance sheet? a. $425,050 b. $425,500 $420,850 c. d. $421,300 6. The following amounts are from Cooper Co.'s 2011 income statement s340,000 Sales Sales returns and allowances .. Cost of goods sold . Utflities expense . 5,000 132,000 66,000 1,000 28,000 5,000 4,000 46,000 3,000 Income tax on operations Extraordinary loss due to earthquake, net of tax Interest expense Salaries expense Loss on sale of investments What amount would Cooper show for income from continuing operations on a multiple-step format income statement? a. $96,000 b. $52.000 c. $57,000 d. $68,000