You are provided with the following information for Trent Company

er Questions (Total Points: 70 points) Question 1: (Suggested time: 15 minutes: Total points: 20 points) You are provide with the following information for Trent Company, effective as of December 31 2016, at year-end: Accounts payable Accounts receivable Buildings, net of accumulated depreciation S 834 810 3,537 770 1,827 1,500 450 335 475 Cash Common stock Cost of goods sold Current portion of long-term debt Depreciation expense Dividends paid during the year Equipment, net of accumulated depreciation Gain on sale of equipment Income taxes payable Interest expense Inventory Land 1,220 250 265 400 967 1,600 3,500 Long-term debt Prepaid expenses Retained earnings, beginning 12 1,600 7,350 800 Sales Revenues Sales Discounts 400 Sales Returns and Allowances Selling expenses Short-term investments Salaries and Wages expense Salaries and Wages payable 310 1,200 700 222 Instructions: Fill in the table on the next page. You must show work to receive credit Note: Income tax rate was 40%