Several accounts and amounts from the financial statements of a recently opened Blue Rifle Coffee appear below for the year ending December 31, Year 1.

Equipment 43,600 Cash $ 10,600 Note payable, due 12-31-Yr 5 30,000 Dividends 12,000 Other operating expenses 6,500 Common stock 50,000 Sales revenue 120,000 Retained earnings 37,000 Cost of goods sold 48,000 Accumulated depreciation 17,000 Buildings 57,500 Income tax expense 9,400 Salaries expense 11,300 Inventory 7,200 Accounts receivable 3,900 Accounts payable 5,800

Use the information provided to determine the answers to the following questions:

A. What is the total amount owed to Blue Rifle Coffee by its customers at the end of the year?

B. How much are total current assets?

C. How much does Blue Rifle Coffee owe to its short-term creditors at December 31, Year 1?

D. How much of Blue Rifle Coffee's profit did it distribute to shareholders during Year 1?

E. Prepare income statement for Year 1 for Blue Rifle Coffee.