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The following items are taken from the adjusted trial balance (assume normal balances) of the Dinkel Company for the year ending December 31,2022. On a
The following items are taken from the adjusted trial balance (assume normal balances) of the Dinkel Company for the year ending December 31,2022. On a separate piece of paper, answer the following questions. 1) What is Net Income for the year? 2) What is Ending Retained Earnings (12/31/22)? 3) What are Total Current Assets? 4) What is the Book Value of the Equipment? 5) What type of asset is the Patent account? 6) What are Total Assets (the amount reported as Total Assets on the Balance Sheet)? 7) What are Total Current Liabilities? 8) What are Total Long-term Liabilities? 9) What are Total Liabilities? 10) What is Ending Stockholder Equity (12/31/22)? BONUS: (10 points) Prepare a Classified Balance Sheet in proper format on proper accounting paper. (see page 4-19 in your text)
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