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The following is a summary of accounts and balances for Fredo Inc. as at December 31, 2020. Debit Credit f $37,485 $250,XXX Accounts Payable Accounts

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The following is a summary of accounts and balances for Fredo Inc. as at December 31, 2020. Debit Credit f $37,485 $250,XXX Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Advertising Expenses Allowance for Doubtful Accounts 50,300 2,000 7500 Cash 136,000 Common Shares, 50,000 issued 505,000 30,000 Rent expense Dividends declared 10,000 4,407,000 142,500 15,000 4,050,000 Equipment, cost Inventory Prepaid Insurance L-T Loan Payable Retained Earnings, January 1 Salary Expense Salary Payable Service Revenue 92,215 8,000 32,000 150.XXX 4,050,000 92,215 L-T Loan Payable Retained Earnings, January 1 Salary Expense Salary Payable Service Revenue 8,000 32,000 150,XXX Unearned Revenues 76,000 Replace XXX with the last three digits of your student number. Required: A. Calculate the amount of total current assets. B. Calculate the amount of total assets. C. Calculate the amount of total current liabilities. D. Calculate the amount or Retained Earnings, December 31, 2020. E. Calculate the amount of Total Liabilities and Shareholders' Equity as at December 31, 2020. For full marks, you must list all accounts and subtotals (e.g. current assets) that are part of your calculation. You are not required to prepare the Statement of Financial Position in proper format

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