On December 31, 2020, Morgan Merchandising finished its second year of operations. Early in 2020, Nellie Morgan invested an additional $45,000 in the business and $35,000 of the Long-term note payable is due October 31, 2021. The investment in TD Bank shares is expected to be held for the long term. Morgan Merchandisings accountant has finalized the companys records and provided the following adjusted account balances. Note: all accounts have normal balance.

Account	Balance	Account	Balance
Accounts Payable	$ 20,800	Office Equipment	$ 8,200
Accounts Receivable	53,560	Office salaries expense	32,890
Accumulated depreciation, office equipment	1,800	Office supplies expense	1,800
Accumulated depreciation, store equipment	8,800	Other expenses	475
Advertising expense	11,300	Patent	85,000
Cash	61,800	Prepaid Insurance	2,700
Cost of goods sold	253,600	Rent expense, office space	10,000
Depreciation expense, office equipment	910	Rent expense, selling space	88,000
Depreciation expense, store equipment	7,800	Salaries Payable	3,640
Insurance expense	620	Sales	552,500
Investment in TD Bank shares	80,000	Sales discounts	4,450
Investment Income	5,600	Sales returns and allowances	4,700
Long-term Note Payable, due October 31, 2026	170,000	Sales salaries expense	24,050
Merchandise Inventory	50,600	Store Equipment	88,000
Nellie Morgan, Capital	131,590	Store supplies expense	1,200
Nellie Morgan, Withdrawals	19,500	Supplies	3,575

REQUIRED:

Using the above information, calculate each of the following:

Net Sales	11. Current assets
Gross profit from sales	12. Non-current investments
Total selling expenses	13. Book value of the Store Equipment
Total general & administrative expenses	14. Property, plant, and equipment
Total operating expenses	15. Intangibles
Profit from operations	16. Total Assets
Total other revenue & expenses	17. Current liabilities
Profit	18. Non-current liabilities
Beginning capital	19. Total liabilities
10. Ending capital	20. Total liabilities and equity

Note: Supporting calculations are required for full/part marks.