Based on the account balances below, calculate total assets,
liabilities, ending retained earnings, net income, sales, and the
current ratio. The profit margin is 10%.
Accounts Payable
4,000
Accounts Receivable
9,000
Beginning Retained Earnings
7,000
Cash
9,000
Common Stock
29,000
Cost of Goods Sold
85,000
Deferred or unearned revenue
2,000
Dividends
2,000
Equipment
72,000
Interest Expense
1,000
Inventory
6,000
Long-term Notes Payable
42,000
Office Supplies
6,000
Prepaid Rent
3,000
Rent Expense
11,000
Accrued Expenses
3,000
Tax Expense
6,000
Taxes Payable
9,000
Wage Expense
7,000
