Terrific Computer Systems Ltd.
Balance Sheet
Year ending December 31, 2021
ASSETS
	Cash	6,520
	Office supplies	1,045
	Prepaid insurance	800
	Inventory	2,750
	Accounts receivable	3,525
	Prepaid rent	650
	Deferred revenue	1,280
	Equipment	65,350
TOTAL ASSETS			81,920
LIABILITIES AND EQUITY
	Interest payable	1,250
	Salaries payable	2,500
	Accumulated depreciation	12,570
	Note payable (due in 2022)	18,000
	Accounts payable	1,455
	Income tax payable	950
	Dividends	(3,000)
	Retained earnings (INCORRECT!)	28,655
	Profit	7,540
	Owners capital	12,000
TOTAL LIABILITIES AND EQUITY			81,920

Question 10 (2 points) Saved What is the correct amount of total assets? 68070 Question 11 (2 points) Saved What is the correct amount of retained earnings? 30635 A/ Question 12 (2 points) What is the correct amount of current liabilities? AJ Question 13 (2 points) What is the correct amount of current assets? A/