COUNTING instructions lhe or Chapter 2 Save & Exit Submit Question 4 (of 5) Time remaining: 0:10:19 alue: 32.00 points Gary's TV had the following accounts and amountsin its financial statements on December 31, 2016. Assume that all balance shee items reflect account balances at December 31, 2016, and that all income statement items reflect activities that occurred during the year then ended. 9,000 Interest expense 20,000 Paid-in capital 6,000 Accumulated depreciation 70,000 Notes payable (ong-term) 18,000 Rent expense 210,000 Merchandise inventory 48,000 Accounts receivable 3,000 Depreciation expense 32,000 225,000 Retained earnings 36,000 Cash 440,000 Cost of goods sold 18,000 Equipment 60,000 Income tax expense 23,000 Accounts payable 620,000