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 $ 31,700 11,200 24,600 87,500 68,100 11,600 69,000 5,700 20,500 24,500 Interest expense 2,300 Common stock 8,000 Income tax expense 11,529 Accumulated depreciation 41,000 Long-term debt 36,000 Supplies expense 13,600 Merchandise inventory 31,000 Net sales 145,000 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 (or loss) for the year ended December 31, 2019. e. What was the average income tax rate for Pope's Garage for 2019? f. If $17,000 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings? a. Total current assets b. Total liabilities and stockholders' equity c. Operating income d. Net income e. Average income tax rate f. Retained earnings $ 80,000 $ 132,600 %