The trial balance of Amusement Specialties, Inc., follows:

Vicki Gutierrez, your best friend, is considering investing in Amusement Specialties, Inc. Vicki seeks your advice in interpreting the company's information. Specifically, she asks how to use this trial balance to compute the company's total assets, total liabilities, and net income or net loss for the year.
Requirement
1. Write a short note to answer Vicki's questions. In your note, state the amounts of Amusement Specialties' total assets, total liabilities, and net income or net loss for the year. Also show how you computed each amount.

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Aİ Amusement Specialties, Inc. Trial Balance December 31, 2016 Cash 3 Accounts receivable Prepaid expenses 5 Building 6 Equipment 7 Accounts payable 8Note payable 9 Common stock 14,000 0,000 500 96,000 239,000 51,300 96,000 35,000 91,200 10 Retained earnings 11 Dividends 12 Service revenue 270,000 47.000 2,000 79,000 3.000 13 Rent expense Advertising expense 15 Wage expense 16 Total 17 18