Popes Garage had the following accounts and amounts in its financial statements on December 31, 2016. Assume that all balance sheet items reflect account balances at December 31, 2016, and that all income statement items reflect activities that occurred during the year then ended.

33,000 Accounts receivable Depreciation expense 11,700 24,500 Land 88,000 Cost of goods sold Retained earnings 56,600 11,300 Cash 68,500 Equipment 5,500 Supplies Accounts payable 22,500 20,200 Service revenue 2,200 Interest expense 8,000 Common Stock 17.016 Income tax expense 44,000 Accumulated depreciation 40,000 Long-term debt 13,400 Supplies expense 28,300 Merchandise inventory 166,000 Sales revenue requ a. Calculate the total current assets at December 31, 2016. Total current assets es and Stoc c. Calculate the earnings 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. f If $17,500 of dividends had been declared and paid during the year, what was the January 1, 2016. balance of retained earnings? tained earnings