I'n having issues with this problem and need help identifying the formulas. Problem 2-17 (Algo) Understanding and analyzing financial statement relationships-sales/service organization LO 2, 3, 4 Popes Garage had the following accounts and amounts in its financial statements on December 31, 2019. Assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year then ended. Accounts receivable $ 31,800 Depreciation expense 11,400 Land 24,300 Cost of goods sold 88,000 Retained earnings 61,800 Cash 9,400 Equipment 69,000 Supplies 5,600 Accounts payable 20,700 Service revenue 27,100 Interest expense 3,300 Common stock 7,000 Income tax expense 11,822 Accumulated depreciation 41,000 Long-term debt 36,000 Supplies expense 13,000 Merchandise inventory 26,400 Net sales 140,000 Required: Calculate the total current assets at December 31, 2019. Calculate the total liabilities and stockholders equity at December 31, 2019. Calculate the earnings from operations (operating income) for the year ended December 31, 2019. Calculate the net income (or loss) for the year ended December 31, 2019. What was the average income tax rate for Popes Garage for 2019? If $17,000 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings?