The following information applies to Questions 2, 3, and 4.

The amounts of assets and liabilities of Reeve Corporation at December 31, 20X2, the end of the year,

and its revenues and expenses for the year are as follows. The retained earnings were $700,000 on

January 1, 20X2, the beginning of the year. During the year, dividends of $45,000 were paid:

Accounts Payable	$80,000
Accounts Recieveable	250,000
Cash	160,000
Common Stok	50,000
Fees Earned	900,000
Land	700,000
Miscellaneous expense	6,000
Rent expense	30,000
Supplies	7,0000
Supplies expense	4,000
Utilities expense	28,000
Wages expense	500,000

Chapter 1 Question 2 (1 point)

Required: What is the amount of total expenses and the amount of net income, as reported in Reeve

Corporations Income Statement, for the year ended December31, 20X2?

Chapter 1 Question 3: (1 point)

Required: What is the amount of Retained Earnings at December 31, 20X2; as reported in the Reeve

Corporations Balance Sheet?

Chapter 1 Question 4: (1 point)

Required: What are the amounts, for the following, at December 31, 20X2, as reported in Reeve

Corporations Balance Sheet?

a. Total assets,

b. Total liabilities,

c. Total stockholders equity