Popes Garage had the following accounts and amounts in its financial statements on December 31, 2013. Assume that all balance sheet items reflect account balances at December 31, 2013, and that all income statement items reflect activities that occurred during the year then ended.

Accounts receivable	$	30,200
Depreciation expense		10,600
Land		26,300
Cost of goods sold		88,500
Retained earnings		61,400
Cash		11,800
Equipment		70,000
Supplies		5,400
Accounts payable		22,500
Service revenue		29,700
Interest expense		2,400
Common stock		5,000
Income tax expense		20,625
Accumulated depreciation		44,000
Long-term debt		37,000
Supplies expense		12,700
Merchandise inventory		26,200
Sales revenue		167,000

Required:

a.	Calculate the total current assets at December 31, 2013.

b.	Calculate the total liabilities and stockholders equity at December 31, 2013.

c.	Calculate the earnings from operations (operating income) for the year ended December 31, 2013.

d.	Calculate the net income (or loss) for the year ended December 31, 2013.

e.	What was the average income tax rate for Popes Garage for 2013?

f.	If $18,500 of dividends had been declared and paid during the year, what was the January 1, 2013, balance of retained earnings?