. USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (3) QUESTIONS: The records of a company show the following account balances as of December 31, 20X1 except were indicated otherwise.

L- Note Payable (due Nov 1, 20X2)	$ 2,000	Retained Earnings (Jan. 1, 20X1)	$ 3,900
Revenues	55,600	Supplies	700
Supplies Expense	6,600	Cash	6,900
Insurance Expense	800	Prepaid Advertising	1,200
Depreciation Expense	100	Rent Expense	6,900
Common Stock (Jan. 1, 20X1)	18,000	Accounts Receivable	19,500
Deferred Revenues	11,500	Accounts Payable	1,600
Equipment	15,000	Accumulated Depreciation	2,000
Cost of goods sold	27,000	Inventory	8,000
Allowance for Doubtful Accounts	600	Discount on Note Payable	500

The owner of the company made an additional investment of $2,000 in the business during the year in exchange for common stock and dividends of $4,000 were declared and paid. The Deferred Revenues represent a prepayment received from a customer and 80% of these services will be completed by December 31, 20X2.

Required: Determine Total Assets (i.e. net of any contra accounts) at December 31, 20X1:

Determine the Total Current Liabilities at December 31, 20X1:

Determine Ending Retained Earnings at December 31, 20X1 (after closing):