Problem 1-3 Account Name 1 Accounts Payable 2 Accounts Receivable Amount $13,000 $7,000 3 Beginning Retained Earnings $15,000 4 Cash 5 Cost of Goods Sold 6 Dividends 7 Equipment 8 Inventory 9 Rent Expense 10 Sales Revenue $8,000 $41,000 $3,000 $40,000 $14,000 $12,000 $115,000 11 Salaries & Wages Expense $36,000 Requirements: 1. For each account listed in the table above, identify what type of account it is. 2. Using the amounts in the table above and the accounting equation, compute the amounts for the following items: a. Total Expenses b. Net Income c. Total Assets d. Ending Retained Earnings e. Stock Problem 1-4 Total Assets 12/31/19 12/31/20 $133,600 $147,900 Total Liabilities $54,200 $58,800 Common Stock $40,000 $40,000 During 2020, Dublin Corporation paid $7,000 in dividends. Requirements 1. Calculated Retained Earnings for 12/31/19 and 12/31/20 2. Calculate Dublin's net income for 2020.