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please explain your answer Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet

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Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable Depreciation expense Land Cost of goods sold Retained earnings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Net sales $ 30,800 11,800 26, 100 89,500 58,300 10,000 69,000 6,000 21.400 29, 200 1.500 9,000 17.500 43,000 37,000 12,900 26,800 149,000 Required: a. Calculate the total current assets at December 31, 2019 b. Calculate the total liabilities and stockholders' equity at December 31, 2019 c. Calculate the earnings from operations (operating income) for the year ended December 31, 2019, d. Calculate the net income for loss) for the year ended December 31, 2019 e. What was the average income tax rate for Pope's Garage for 2019? f. 1f $17.500 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings? Gm

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