Reference no: EM132533045

The following is the adjusted trial balance for Steely Company.

Steely Company

Adjusted Trial Balance

For the Year ended December 31, 2008

Cash                                          6,130

Accounts Receivable                        2,300

Prepaid Expenses                               750

Equipment                                           13,400

Accumulated Depreciation                        1,200

Accounts Payable                                  1,700

Notes Payable                                       5,000

Capital Stock                                         12,000

Dividends                                                 870

Fees Earned                                               6,600

Wages Expense                                           1,450

Rent Expense                                                    900

Utilities Expense                                                  475

Depreciation Expense                                         150

Miscellaneous Expense                                75

Totals                                                    26,500 26,500

Question 1: Determine the net income (loss) for the period.

Question 2: Determine the stockholders' equity ending balance for the period.

Question 3: Determine total assets.

Question 4: Determine the current assets.

Question 5: Determine the total liabilities for the period.