Understanding and analyzing financial statement relationships-merchandising Problem 2.18 organization Gary's TV had the following accounts and amounts in its financial 102.24 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. 5400 10.000 3.000 35000 9.000 106. OOO DOO reste Padanc Accumulaasam Nos blog Rente Merchandise Accounts rece Depreciation expende La Retained ang Cour of goods solid Ement whicken As payable Neties 1,500 122.000 20.000 220.000 10.000 30.000 13.000 310.000 C Required: Calculate the difference between current assets and current liabilities for Gary's TV at December 31, 2019 1. Calculate the total assets at December 31, 2019. Calculate the earnings from operations (operating income) for the year ended December 31, 2019 d. Calculate the net income (or loss) for the year ended December 31, 2019. What was the average income tax rate for Gary's TV for 2019? If 532.000 of dividends had been declared and paid during the year, what was the January 1, 2019, balance of retained earnings? e