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All amounts are expressed in Canadian dollars and report normal balance. Account...

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Accounting

All amounts are expressed in Canadian dollars and report normal balance.

Account Balance
Accounts payable $ 4,360
Accounts receivable $ 200
Advertising expense $ 3,200
Bank loan payable $ 8,000
Building (net value) $ 26,100
Cash $ 34,000
Common shares $ 16,000
Cost of goods sold $ 92,000
Depreciation expense, Building $ 4,400
Income tax payable To determine
Interest expense $ 600
Inventory $ 10,800
Land $ 16,000
Prepaid rent $ 9,200
Rent expense $ 1,000
Retained earnings (opening balance January 1, 2020) $ 46,020
Sales revenue $ 168,000
Supplies $ 400
Supplies expense $ 200
Unearned revenue $ 2,400
Wages expense $ 18,000

1- Calculate total current asset

2- Total non current asset ( consider the net book value at it appears in the table given. The 4,400 depreciation expense has been already added to accumulated depreciation)

3- Income tax payable (30% tax rate)

4- Total current liabilities

5- Total non current liabilities

6- Retained earnings ending balance (Using Bens Inc. account balances, assuming the board of directors declared dividends of $28,680, calculate)

7 - Total Shareholders' equity

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