Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2016. Assume that all balance sheet items relect account balances at December 31, 2016, and that all income stabement items reflect activities that occured during the year then ended Accounts receivable Depreciation expense Land $30,500 11,200 28,800 89,000 66.600 10.200 69,500 5,700 20,000 24,400 Cost of goods sold Retained earmings Cash Equipment Supplies Accounts payable Service venue Interest expense 2.100 6.000 16.562 Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandse inventory Sales revenue 42000 37.000 13.400 29.100 155,000 Required a. Calculate the total current assets at December 31, 2016 $ 75,500 Total curmreet assats b. Calculate the total labilities and stockholders' equity at December 31, 2016 Total abiltes and stockholders equty c. Caloulate the eamings from operations (operating income) for the year ended December 31, 2016 Operating income d. Calculate the net income (or loss) for the year ended December 31, 2016. Net income S 47,138 e. What was the average income tax rate for Pope's Garage for 20167 verage income tax rate % f. If $19,000 of dividends had been declared and paid during the year, what was the January 1, 2016, balance of retained eamings? Retained earnings