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Please explain in depth so i can see how to get there$ 31,700 Accounts receivable Depreciation expense Land 10,400 24,200 89,000 Cost of goods sold Retained earnings 64,400 11,90

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Answer #1
Part a
Current assets
Accounts receivable 31700
Cash 11900
Merchandise inventory 28500
supplies 5300
Total 77400
Part b
Total liabilities and stockholder's equity
Retained earnings 64400
Accounts payable 22700
Common stock 6000
Long term debt 37000
Total   130100
Part d
Earnings from operations
Net sales 140000
Service revenue 24500
Cost of goods sold 89000
75500
Depreciation expense 10400
interest expense 3300
supplies expense 12900
Net income 48900
Income tax expense 12225
Income after taxes 36675
Part c
Net income 48900
Depreciation 10400
Operating income 59300
Part e
Income tax rate= 12225/48900
0.25
25%
Part F
retained earnings 64400
less dividend paid 20000
retained earnings 44400
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