Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2016. Assume that all balance sheet tems reflect account balances at December 31, 2016, and that all income statement tems reflect activities that occurred during the year then ended S 32.400 11.100 25,500 87.500 68,800 11,400 68.000 5.500 20,300 21,100 2.300 7,000 13.804 Accounts receivable Depreciation expense Land Cost of goods sold Relained eamings Cash Equipment Supplies Accounts payable Service revenue Interest expense Common stock Income tax expense Accumulated depreciation Long-term debt Supplies expense Merchandise inventory Sales revenue 40.000 36.000 13,900 29,300 143,000 Required: a. Calculate the total current assets at December 31, 2016. Total current assets b. Calculate the total liabilites and stockholders' equity at December 31, 2016 Total liabilties and stockholders' equity e. Calculate the eamings from operations (operating inoome) for the year ended December 31, 2016. Operaing ncome d. Calculate the net income (or loss) for the year ended December 31, 2016 e. What was the average income tax rate for Pope's Garage for 2016? Average income tax rate f. If $19,500 of dividends had been declared and paid during the year, what was the January 1, 2016, balance of retained earmings? Retained eamings References eBook & Resources Leaming Obiective: 02-04 Explain the meaning of each of the onotns on Worksheet Learning Obiective: 02-02 Identify and