YUI Enterprises presents the following financial data:

Cash: $75,000

Accounts Receivable: $40,000

Prepaid Expenses: $7,000

Supplies: $6,000

Accounts Payable: $8,000

Salaries Payable: $4,000

Common Stock: $90,000

Retained Earnings (beginning of the year): $25,000

Service Revenue: $110,000

Wages Expense: $24,000

Supplies Expense: $5,000

Rent Expense: $9,000

Utilities Expense: $4,000

Interest Expense: $3,000

Income Tax Expense: $7,000

Requirements:

Calculate the net income for the year.

Determine the ending retained earnings.

Compute the current ratio.

Calculate the quick ratio.

Determine the total assets.