I am looking for the correct answer to this general accounting question with appropriate explanations.

The financial statements of Brightway Enterprises prepared at the end of the current year contained the following elements and corresponding amounts: Assets = $40,000 Liabilities = ? Common Stock = $8,000 Revenue = $15,500 Dividends = $2,000 Beginning Retained Earnings = $5,500 Ending Retained Earnings = $7,000 a) Based on this information, what was the amount of expenses reported on Brightway's income statement for the current year? b) What was the amount of total liabilities reported on the balance sheet as of the end of the current year