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Required information [The following information applies to the questions displayed below.) Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management team's effectiveness at managing its assets efficiently. At the start of 2019 (its fourth year), Massa's T-account balances were as follows. Dollars are in thousands. Transactions for 2019: a. Provided $59,300 in services to clients who paid $48,900 in cash and owed the rest on account. b. Received $6,100 cash from clients on account. c. Received $450 in cash as interest revenue on investments. d. Paid $34,700 in wages, $12,900 in travel, $6,700 in rent, and $700 on accounts payable. e. Received $1,200 in cash from clients in advance of services Massa will provide next year. f. Received a utility bill for $660 for 2019 services. g. Declared and immediately paid $360 in dividends to stockholders. Assets Cash Accounts Receivable 8,200 4,100 Long-Term Investments 6,400 Liabilities Accounts Payable Unearned Revenue 1,500 5,400 Long-Term Notes Payable 1,500 Stockholders' Equity Common Stock ($0.10 par value) Additional Paid-in Capital 3,485 615 Retained Earnings 6,200 Revenues Consulting Fee Revenue Interest Revenue Expenses Wages Expense Travel Expense Utilities Expense Rent Expense 3. Compute ending balances in the T-accounts to determine amounts for the following on December 31, 2019: (Enter your answers in thousands, not in dollars.) Revenues - Expenses Liabilities = Net Income Stockholders' * Equity Assets

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