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The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising revenue

The following account balances are taken from the December 31, 2015, financial statements of ABZ Advertising Company. The company uses accrual basis accounting.

Advertising revenue $ 51,218 Cash 45,584 Accounts receivable 7,748 Interest expense 2,392 Accounts payable 5,200 Operating expenses 41,487 Unearned revenue 1,296 Equipment 19,975 Income tax expense 2,561

The following activities occurred in 2016:
1. Performed advertising services on account, $60,600.
2. Received cash payments on account, $11,600.
3. Received deposits from customers for advertising services to be performed in 2017, $3,300.
4. Made payments to suppliers on account, $5,200.

Incurred $49,600 of operating expenses; $43,000 was paid in cash and $6,600 was on account and unpaid as of the end of the year.

1. What is the balance in the Cash account at December 31, 2016?

2.What is the balance of Accounts Receivable at December 31, 2016?

3.What is the amount of revenue that will be reported on the income statement for the year ended December 31, 2016?

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