Question: Part 2. Retained Farmings. (5 points) The following is known about Lucas's Gym & Fitness, Inc. for the year 2020: (Show Work) 20,000 560,000 Expenses

Part 2. Retained Farmings. (5 points) The following is known about Lucas's Gym & Fitness, Inc. for the year 2020: (Show Work) 20,000 560,000 Expenses Retained earnings, January 1 Current Assets, December 31 Current Liabilities, December 31 $ 40,000 300,000 160,000 45.000 Dividends declared Total Assets, December 31 Contributed Capital Net Increase in Equity, 12/31 105,000 1. What were Non-Current Assets on December 31? 2. What were Revenues during 2020? 3. What were Long-Term Liabilities on December 31? Part III. Multiple Choice (14 points) Select the correct answer for each question. For any questions that require computations, you MUS show your work in order to receive partial credit for any questions missed. (14 points)

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