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Problem 2: The following are the accounts of READ Corporation. The company's fifth year of operations ended on December 31, 2021. Salaries Expense $12,000
Problem 2: The following are the accounts of READ Corporation. The company's fifth year of operations ended on December 31, 2021. Salaries Expense $12,000 Salaries Payable $3,000 Accounts Payable 21,000 Commissions Earned 60,000 Dividends 18,000 Retained Earnings, ? December 31, 2021 Accounts 24,000 Utilities Expense 6,000 Receivable Inventories 66,000 Retained Earnings, 48,000 January 1, 2021 Cash ? Common Stock 30,000 Use the information in the table above to calculate for the year ended December 31, 2021 (a) net income, (b) retained earnings, and (c) total assets and (d) total liabilities and stockholders' equity Clearly label and show your work
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