Please answer this question

Use the following information for the next 3 questions.

Below are some of the account balances for Broadway Pizza at December 31st, Year 1 (all accounts have their normal debit or credit balances - for example, Cash has a debit balance):

Account	Balance
Accounts receivable	$356
Accumulated depreciation	$383
Allowance for doubtful (uncollectible) accounts	$25
Bond payable	$311
Cash	$232
Common stock	$561
Depreciation expense	$182
Dividends	$60
Equipment	$332
Goodwill	$233
Loss on sale of equipment	$35
Operating expenses	$265
Sales revenue	$901
Unearned revenue	$27
Warranty claims payable	$37

1. Based on the information provided, what is the amount of Net Income to be reported for the year ended 12/31/Year 1?

• $652

• $359

• $446

• $394

• $419

2. Based on the information provided, what is the amount of Total Assets to be reported on 12/31/Year 1?

• $512

• $1,511

• $745

• $795

• $770

3. Based on the information provided, what is the amount of Total Liabilities to be reported on 12/31/Year 1?

• $375

• $470

• $400

• $460