The accounts of Gleneagles Company prior to the year-end adjustments follow on the next page. Adjusting data at the end of the year include:
a. Unearned service revenue that has been earned, $1,000.
b. Accrued service revenue, $2,000.
c. Supplies used in operations, $3,000.
d. Accrued salary expense, $3,000.
e. Perpaid insurance expired, $1,000.
f. Depreciation expense-building, $2,000.

Mack Shaughnessy, the principal stockholder, has received an offer to sell Gleneagles Company. He needs to know the following information within 1 hour:
a. Net income for the year covered by these data
b. Total assets
c. Total liabilities
d. Total stockholders' equity
e. Proof that total assets = total liabilities + total stockholders' equity after all items are updated.
Required
Without opening any accounts, making any journal entries, or using a work sheet, provide Mr. Shaughnessy with the requested information. The business is not subject to income tax. Show all computations.

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$ 10,000 4,000 16,000 155,000 32,000 vable.. 7,000 Retained earnings. 4,000 Dividends Supplies Prepaid insurance Building Accumulated depreciation- 107,000 Salary expense Depreciation expense- 14,000 building 6,000 Insurance expense. 5,000 Utilities expense buildi ng 51,000 Supplies expense Accounts payable Salary payable Unearned service revenue 7,000 2,000 Advertising expense ..5