Entity A reported the following items on its balance sheet at the end of the current year. All accounts are listed. Cash $ 57,000 Accounts payable $ 42,000 Prepaid Insurance 2,000 Taxes payable 12,000 Property, plant, & equip. 140,000 Long-term debt 62,000 Common stock 100,000 Accounts receivable 56,000 Retained earnings ? Inventory 30,000

What amount will Entity A report on its balance sheet for Total Assets?

		$285,000
		$64,000
		$116,000
		$286,000

1. Here are several items that appear on an income statement. Cost of goods sold $7,400 Net sales $10,000 Operating expenses 650 Income tax expense 475 Net other (other revenues and gains netted against other expenses and losses) 300

   How much is gross profit?

   		$2,600
   		$1,775
   		$1,950
   		$2,250

need asap