Show work. For percentages rohnd to nearest tenth. For decimals round to nearest hundredth

Show your work clearly (except fill-in-the-blank questions unless otherwise instructed). For percentages, round to the nearest tenth. For dollar amounts and decimals, round to the nearest hundredth. 1. Gabriela Paola is the General Manager of Neptune Seafood House. On December 31, she is completing the year-end balance sheet for her restaurant. She has already calculated the Assets portion of her balance sheet as well as some portions of the Liabilities and Owners' Equity sections. TOTAL ASSETS LIABILITIES AND OWNERS' EQUITY Current Liabilities $ 26,100 9,100 Accounts Payable Payroll Taxes Payable Sales Taxes Payable Gift Cards Payable 15,100 2,400 Accrued Expenses 9,100 13,600 Current Portion, Long-Term Debt Total Current Liabilities Long Term Debt, net of Current Portion Total Liabilities $ 225,650 Owners' Equity Original Investment $ 30,000 Retained Earnings Retained Earnings Total Owners' Equity $ 174,850 TOTAL LIABILITIES AND OWNERS' EQUITY Fill in the gray blanks in Gabriel's balance sheet above and show your work for calculating the amount of the operation's (a) total assets, (b) Long Term Debt; net of Current Portion, and (c) amount of the operation's Retained Earnings. (4 points) 1 Name: 2. Kwan manages a fine dining restaurant. Because it is the end of the year, the restaurant's owner has asked Kwan to help him prepare the current assets section of the operation's balance sheet. However, Kwan is not exactly sure what the operation's current assets are. Balance Sheet Accounts: The Restaurant Kwan Manages Investments $373,256 Paid in Capital $486,486 Balance Sheet Accounts: The Restaurant Kwan Manages Investments $373,256 Paid in Capital Other Current Liabilities 73,954 Accumulated Depreciation Building 627,998 Food Inventory Accounts Payable 213,659 Common Stock Long-Term Debt 395,315 Prepaid Expenses Cash 85,986 Retained Earnings Furnishings and Equipment 308,334 Land Beverage Inventory 15,125 Supplies Inventory Notes Payable 47,858 Allowance for Doubtful Accounts Marketable Securities 196,154 Accounts Receivable $486,486 203,144 31,818 133,421 15,000 477,500 309,080 3,850 4,000 23,721 The owner tells Kwan he wants to use five account categories when classifying the restaurant's current assets and that he wants the assets listed in their order of liquidity. Examine the restaurant's balance sheet accounts above and list current assets in the order recommended by the USALI (Fill in the gray blanks in the chart below). (10 points) Dollar Amounts Current Asset Accounts (In Order of Liquidity) Total Current Assets