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	$	33,000
Depreciation expense		11,300
Land		26,200
Cost of goods sold		88,000
Retained earnings		61,600
Cash		9,300
Equipment		68,500
Supplies		5,600
Accounts payable		21,000
Service revenue		27,400
Interest expense		1,300
Common stock		8,000
Income tax expense		12,926
Accumulated depreciation		44,000
Long-term debt		38,000
Supplies expense		13,600
Merchandise inventory		30,000
Sales revenue		143,000

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 $19,500 of dividends had been declared and paid during the year, what was the January 1, 2013, balance of retained earnings?