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Using the information below, provide the following: Ending total assets: Ending total liabilities: Ending total equity reporting on the balance sheet (hint: accounting equation): Net

Using the information below, provide the following:

Ending total assets:

Ending total liabilities:

Ending total equity reporting on the balance sheet (hint: accounting equation):

Net income:

Current ratio (round to the second decimal point):

Account Balance
Common Stock 20,000
Cash 6,750
Accounts Payable 2,300
Sales 15,000
Wages Expense 3,400
Retained Earnings 2,300
Notes Payable (Long Term Debt) 35,000
Equipment, net of depreciation 40,000
Prepaid Insurance 4,800
Unearned Revenue 2,000
Inventory 8,900
Interest Expense 750
Cost of Goods Sold 7,800
Rent Expense 1,200
Accounts Receivable 3,000

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