The Accountant for Taryn Corporation Prepared the Following List of Account

Essay

The accountant for Taryn Corporation prepared the following list of account balances from the company's records for the year ended December 31, 2016:
​ $$\begin{array} { l r l r } \text { Sales revenue } & \$ 165,000 & \text { Cash } & \$ 30,000 \\\text { Accounts receivable } & 14,000 & \text { Selling expenses } & 44,000 \\\text { Equipment } & 42,000 & \text { Common stock } & 41,000 \\\text { Accounts payable } & 12,000 & \text { Interest income } & 3,000 \\\text { Salaries and wages expense } & 40,000 & \text { Cost of sales } & 51,000 \\\text { Inventories } & 22,000 & \text { Prepaid expenses } & 2,000 \\\text { Income taxes payable } & 5,000 & \text { Income taxes expense } & 18,000 \\\text { Notes payable } & 20,000 & \text { Retained earnings } & ?\end{array}$$ ​
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-Read the information for Taryn Corporation.Determine the following amounts for Taryn Corp. A) Total assets at the end of 2016              -------------------------
B) Total liabilities at the end of 2016         -------------------------
C) What parties have a claim on Taryn Corporation's assets? Explain you answer in the terms of the accounting equation.