please solve both questions

1. A business has current assets totaling $678K, gross fixed assets of $786K with accumulated depreciation of $79K. Its short- term Liabilities are $324K and its total long- term debt amounts to $400K. Its shareholder's equity ('000 = K) amounts to: $567K $661K $455K $1,345K 2. On January 1, 2020, a firm had total accounts receivable (A/R) of $23,400,657. It also had an allowance for bad debts of $234,678. During the following accounting period, sales on credit were $345,678,743 and collections were $337,878,555. During the year, to recognize a number of bad debts, the firm wrote-off $23,786 against its accumulated allowance and it wrote off $34,878 directly against A/R. It decided to increase its allowance for future bad debts by $80,000. Based on the fact pattern, the closing net A/R at December 31, 2020 will be: $34,897,654 $29,786,543 $30,851,289 $28,654,333