Objective: To calculate financial statement figures Directions: A list of several account titles and balances follows. Answer the questi that relate to this list. Account Balance Accounts Payable $12,000 Accounts Receivable 7,000 Accumulated Depreciation 6,000 Cash 8,000 Depreciation Expense 3,000 Equipment 22,000 Fees Earned 35,110 Insurance Expense 200 Prepaid Insurance 600 Rent Expense 3,200 Kim Bishop-Nelson, Capital 15,300 Kim Bishop-Nelson, Drawing 8,000 Salaries Payable Salaries Expense 500 15,310 Supplies Supplies Expense 1,200 400 1. What are the total assets? 2. What are the total liabilities? 3. What is the net income or net loss