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A retail clothing company began operations in 2014 with assets of $43,800. The following additional data have been taken from the records as of December 31, 2014:


Accounts Payable	$	5,500
Accounts receivable		5,000
Accrued liabilities		5,300
Accumulated depreciation		7,200
Buildings & equipment		23,500
Contributed capital		3,600
Goodwill & intangible assets		3,400
Land		86
Cash		24,600
Long-term liabilities		4,200
Other current liabilities		6,300
Other non-current assets		3,600
Prepaid expenses		1,130
Net income for 2014		13,500
Retained earnings, January 1		26,016
Sales revenue for 2014		214,000
Inventory		10,300

All accounts have normal balances.

What is the amount of current assets to be reported on the balance sheet at the end of 2014?

	$41,030
	$23,386
	$64,416
	$21,300

What is the amount of total liabilities at December 31, 2014?

	$17,100
	$64,416
	$21,300
	$11,800

What is the net profit margin ratio for 2014?

	0.053
	0.080
	0.063
	0.122

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9946559

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