Part A: On June 1, 2014, ABC Inc., a new company, was started by two friends. Below are the account balances at the end of June. To help you answer the question a space has been provided for you to categorize the accounts into their elements. Element: Account Name Amount Owner's capital Accounts payable Dividends Supplies Prepaid expense Loans payable, 2019 Accounts receivable Intangibles Advertising expense Retained earnings, beginning of the year Cash Wages payable Wages expense Service revenue Unearned revenue Rent expense Supplies expense 10,200 3,500 750 1,160 2,500 3,900 2,725 8,400 1,900 0 7,430 1,300 5,500 18,750 1,490 6,900 1,875 Solution: 1 What is the amount of total liabilities? 2 What is the amount of total equity? 3 What is the amount of current assets? 4What is the profit at the end of the year