Use the Following Information to Answer the Questions Below For the Year Ended Dec-31-2016, Our Business had the Following Ending Account Balances: Common Stock=$30,000 Cash=$7,000 Accounts Payable=$11,000 Building=$70,000 Service Revenues=$35,000 Beg Retained Earnings = $8,000 Furniture=$10,000 Rent Expense=$13,000 Dividends=$5,000, Notes Payable=$40,000 Utility Expenses=$4,000 Accounts Receivable=$12,000 Salary Expense=$3,000

1, Compute The Net Income for the Year

2. Compute the Ending Retained Earnings Balance at Year End

3. Compute the Ending Total Assets at Year End.

4. Compute the Ending Total Liabilities at year End

5. Compute the Ending Total Owners Equity at year End