The following are the account balances from the Adjusted Trial Balance of SGA Incorporated as of December 31, 2003.

Cash	40,000	Rent Expense	5,000
Equipment	20,000	Supplies Expense	9,000
Accumulated Depreciation	5,000	Salaries Expense	4,000
Unearned Fees	6,000	Utilities Expense	5,000
Merchandise Inventory	100,000	Retained Earnings, Jan. 1	14,000
Supplies	3,000	Insurance Expense	1,000
Accounts Receivable	10,000	Sales	100,000
Unexpired Insurance	3,000	Sales Returns & Allowance	9,000
Capital Stock	123,000	Sales Discounts	2,000
Dividends	7,000	Cost of Goods Sold	40,000
Accounts Payable	10,000

Instructions

Use the above account balances and calculate the following.

1. Gross Profit on Sales $

2. Gross Profit Rate

3. Net Income $

4. Retained Earnings $

5. Total Assets $

6. Total Liabilities $

7. Total Stockholders Equity is $