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Use the following information to answer the next three questions. Cem Co. is the owner of his own business. On December 31, CemCo.'s assets, liabilities, revenues and expenses were: Insurance Expenses Accounts Payable Miscellaneous Expenses Accounts Receivable Rent Expenses Cash $3.000 $4.000 Equipment $900 $5.000 Notes Payable $2.500 $14.000 $9.000 19.000 On December 31, current assets equal: B) $19.700 D) $23.000 Salaries Expense 3) On December 31, total assets are equal to: A) $25.700 B) $30.700 C) $19.700 D) $22.100 Supplies Expense 4) On December 31, net income is equal to: A) $18.400 B) $17.400 C) $45.000 D) $30.700 Services Performed Supplies on hand $19.000 $11.000 $1.200 $4.600 $45.000 $700 E) None of the above E) None of the above E)None of the above

Use the following information to answer the next three questions. CemCo. is the owner of his own business. On December 31, CemCo.'s assets, liabilities, revenues and expenses were: 3) On December 31 , total assets are equal to: A) $25.700 B) $30.700 C) $19.700 D) $22.100 E) None of the above 4) On December 31, net income is equal to: 518.400 B) $17,400 C) $45.000 D) $30.700 E) None of the above On December 31, current assets equal: $9.000 B) $19.700 19.000 D) $23,000 E)None of the above

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