The trial balance above reflects all of the transactions for the year for ABC Company except for the following information that either happened or needed adjusting entries on the last day of the year. All of the amounts in the above trial balance have a normal balance.

The prepaid insurance of $6,000 was purchased on October 1 and will last for 12 months. 200 Inventory items that each cost $15 were found to be completely obsolete and will need to be scrapped. The allowance for bad debts is determined to be 20% of the accounts receivable. The $3,000 of unearned revenue was received from a customer with the agreement to provide special inventory to the customer. Half of that inventory has been delivered by year end and been taken out of inventory already. A piece of office equipment that originally cost $2,500 was sold for $300. This equipment had accumulated $2,400 of depreciation. An annual payment of $3,300 is due on the note payable on January 1 of the next year. No interest or payment has been recorded since the beginning of the current year. The interest rate on the loan is 4% per year. There were 10,000 shares issued and outstanding for the entire year. Using this information, please prepare and income statement, statement of stockholders equity and balance sheet for the year. Using these statements answer the following questions:

Question 42 (3 points)

What is the gross profit for the year? Give answer without dollar sign, commas or decimals.

Question 42 options:

Question 43 (3 points)

What is the earnings per share for the year? Answer without dollar sign but including decimals.

Question 43 options:

Question 44 (3 points)

What was ending total current assets for the year? Answer without dollar signs or commas.

Question 45 (3 points)

What was the ending total liabilities for the year?

The trial balance for ABC Company is below Cash Accounts Receivable Allowance for Bad Debts Inventory Prepaid Insurance Supplies Office equipment Accumulated Deprec Accounts Payable Unearned Revenue Notes Payable Capital Stock Additional Paid in Capital Retained Earnings Dividends Paid Sales Cost of Goods Sold Salaries Rent Expense Insurance Expense Depreciation Expense 71,000 24,100 2,700 49,300 6,000 12,500 52,000 16,000 18,000 3,000 42,000 4,500 71,000 29,000 5,000 137,000 63,000 22,000 9,000 4,500 4,800 The trial balance for ABC Company is below Cash Accounts Receivable Allowance for Bad Debts Inventory Prepaid Insurance Supplies Office equipment Accumulated Deprec Accounts Payable Unearned Revenue Notes Payable Capital Stock Additional Paid in Capital Retained Earnings Dividends Paid Sales Cost of Goods Sold Salaries Rent Expense Insurance Expense Depreciation Expense 71,000 24,100 2,700 49,300 6,000 12,500 52,000 16,000 18,000 3,000 42,000 4,500 71,000 29,000 5,000 137,000 63,000 22,000 9,000 4,500 4,800