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Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing of BA Corporation: Cash Accounts Receivable

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Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing of BA Corporation: Cash Accounts Receivable Supplies Equipment Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Dividends Service revenue Salaries expense Supplies expense Rent expense Depreciation Miscellaneous expense $25,000 30,000 1,000 1,250,000 100,000 15,000 250.000 500,000 172,000 25.000 852,000 480,000 5,000 30,000 25,000 18,000 20.5 Determine total expenses for the year 21.5 Determine net income for the year 22.5 Determine encing retained earnings for the year 23.5 Determine encing total stockholders' equity for the year 24. S Determine total Current Assets at the end of the year 25. S Determine Total Assets at the end of the year 26. Should Dividends be closed at year end

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