nne Marie, the owner of Annes Beauty Salon continues to ask you questions about her financial statements. 1. What is accounts receivable? Is it something good? 2. I see these things called current assets and current liabilities. What are they? Why show them? 3. I still dont understand what the Statement of Retained Earnings is all about and why do I need it. What is retained earnings? What is that thing called a dividend? Is it an expense? How would you respond to each of these questions? Requires cited references.

Anne's Beauty Salon, Inc Balance Sheet At December 31, 2015 Liabilities Current Liabilities Assets Current Assets Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Total Current Assets Equipment Less: Accumulated Depreciatio Total Long-Term Assets $ 5,000.00 $200.00 $ 5,200.00 949.50 Accounts Payable $11,948.00 Unearned Revenue $20,500.00 Total Current Liabilities $8,400.00 $6,000.00 $ 47,797.50 Note Payable $ 15,000.00 $ 25,000.00 $ 20,200.00 $ 30,000.00 $ 67,797.50 Total Liabilities and Stockholders' Equi $ 67,797.50 Total Liabilities (5,000.00)$20,000.00 Stockholders' Equity $20,000.00 Common Stock Retained Earnings Total Assets