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ABC Co. has the following adjusted accounts on December 31, 2019, the end of their first...

ABC Co. has the following adjusted accounts on December 31, 2019, the end of their first year in business.

A. Calculate the net income for the year.

B. Calculate the capital as of 12/31/2019.

C. Calculate the total assets for the year.

D. Calculate the current ratio (round to one decimal)

(enter your answers in the exact order a-d)

Accounts Receivable 12,357
Loan 40,000
Drawing 24,000
Salaries Expense 38,000
Notes Payable 2,000
Cash 8,654
Rent Expense 12,000
Capital 29,748
Supplies 600
Accounts Payable 8,965
Petty Cash 200
Prepaid Rent 1,000
Phone Expense 2,400
Unearned Revenue 1,000
Supply Expense 2,000
Equipment 15,000
Sales Revenue 132,098
Depreciation Expense 3,000
Land 20,000
Advertising Expense 13,400
Accumulated Depreciation 6,000
Notes Receivable 3,000
Inventory 45,300
Misc Expense 18,900
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