unadjusted trial balance
unadjusted trial balance atDecember 31, 2019:
Accounts Payable ………… $69,000
Accounts Receivable ……… $53,000
Accumulated Depreciation …. $47,000
Advertising Expense ……… $14,000
Building ……………….. $71,000
Cash …………………… $22,000
Contributed Capital ……… $98,000
Cost of Goods Sold ………. $53,000
Dividends ………………. $11,000
Equipment ………………. $57,000
Insurance Expense ……….. $12,000
Inventory ………………. $58,000
Notes Receivable ………… $46,000
Patent …………………. $21,000
Rental Revenue ………….. $39,000
Retained Earnings ……….. $72,000 (atJanuary 1, 2019)
Sales Revenue …………… $93,000
Matt Company has not yet recorded adjusting entries related to the following threeitems:
(1) Income tax expense of $16,000 has not yet been accrued.
(2) Depreciation expense of $4,000 has not yet been recorded.
(3) The note receivable was a 9-month, 15% loan given to a customer on June 1, 2019.Calculate the Net Income, Total current asset, total assetsreported in Matt Company’s balance sheet atDecember 31, 2019 afterthe appropriate adjusting entries have beenrecorded and posted. Do not use decimals in your answer.