Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing) Cash $50,000 Accounts Receivable 40,000 Supplies 3,000 Equipment 900,000 Accumulated depreciation 150,000 Accounts payable 32,000 Notes payable 225,000 Common stock 300,000 Retained earnings 209,000 Dividends 75,000 Service revenue 750,000 Salaries expense 462,000 Supplies expense 10,000 Rent expense 36,000 Depreciation expense 50,000 Miscellaneous expense 40,000 Determine net income for the year Determine ending retained earnings for the year 20. $ Determine total expenses for the year. 21. $ 22. $ 23. $ 24. $ 25. $ Determine ending total stockholders' equity for the year Determine total Current Assets at the end of the year Determine Total Assets at the end of the year 26. Should accumulated depreciation be closed at year end?