Nobody's Business, Inc. Balance Sheet December 31, 2018 and 2019 2019 2018 7. Articulation. 20 points. You are an investor in Nobody's Business, Inc. You want to review the company's financial statements, but some of the numbers are smudged and unreadable. Those numbers are represented with questions marks on this page. With the additional information below, use your knowledge regarding the interrelationships among financial statements to determine each of the missing amounts. Additional Information: 1. The prepaid insurance is the remaining balance on a four-year policy purchased on January 1, 2018 2. No PPE was purchased in 2019. 3. The rent payable (both years) is December's rent that was not paid by the end of the year. $ Assets Cash Accounts receivable Inventory Prepaid insurance Property, plant and equipment Accumulated depreciation Other assets Total assets Liabilities and Equity Accounts payable Wages payable Rent payable Long-term notes payable (8%) Common stock Retained earnings Total liabilities and equity $ 5,880 3,700 5,710 ? 50,000 2 16,800 $ 71,090 2,040 2450 2000 6000 ? (12,500) 6,000 $ $ 3,160 250 1,000 24,000 ? 2 2 1,900 1,400 1,000 24,000 21,690 Nobody's Business, Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2019 Common Stock $ 6,000 ? Retained Earings ? Total ? Balance, December 31, 2017 Issued Common stock Net Income Dividends paid Balance, December 31, 2018 28,990 (18,000) 28,990 (18,000) 42,680 $ 10,000 $ Nobody's Business, Inc. Income Statement For the Year Ended December 31, 2019 $ 206,000 132,000 74,000 $ Sales revenue Cost of goods sold Gross profit Operating expenses: Wages expense Interest expense Rent expense Insurance expense Depreciation expense Total operating expenses Income before taxes Income taxes (35%) Net Income $ 10,980 ? ? 2,000 2,500