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

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

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

B.How much are total current assets?

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

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

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

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