Use the Following Information to Calculate At,or for the Year

Essay

Use the following information to calculate at,or for the year ended,December 31,2010 (a)net income,(b)retained earnings,(c)total liabilities and stockholders' equity,and (d)accounts receivable.
$\begin{array}{lrlr}\text { Supplies } & \$ 1,000 & \text { Cash } & \$ 32,000 \\ \text { Wages Expense } & 14,000 & \text { Dividends } & 16,000 \\ \text { Accounts Payable } & 22,000 & \text { Notes Payable } & 4,000 \\ \text { Retained Earnings, December 31, } & 8,000 & \text { Patents } & 7,000 \\2009\\& & \begin{array}{l}\text { Retained Earnings, } \\\text { December 31, } 2010\end{array} &? \\ \text {Accounts Receivable } & \text { ? } & & \\ \text { Rent Expense } & 6,000 & \text { Common Stock } & 20,000 \\ \text {Commissions Earned } & 30,000 & & \\\end{array}$