The Following Accounts Were Included on Retail Consultants Adjusted Trial

Essay

The following accounts were included on Retail Consultants adjusted trial balance at December 31 2016: $\begin{array}{lr}\text { Accounts payable } & 9,800 \\\text { Accounts receivable } & 13,000 \\\text { Cash } & 5,500 \\\text { Owner's Capital } & 40,000 \\\text { Owner's Drawings } & 10,000 \\\text { Interest expense } & 3,000\\\text { Note payable, due } 8 / 31 / 19 & 65,000 \\\text { Supplies } & 1,500 \\\text { Service revenue } & 37,000 \\\text { Equipment } & 5,000\end{array}$ (a) What are total current assets?
(b) What are total current liabilities?