Reference no: EM132203964

Jill Company has the following account balances after adjusting entries at December 31, 2011:

Cash     137,000

Bonds Payable (due 2050)            100,000

Accounts Payable            22,000

Dividends           20,000

Treasury Stock, Common (22,000 shares)             98,000

Preferred Stock ($10 par)             80,000

Land     220,000

Paid-in Capital in Excess of Par Value, Preferred 8,000

Equipment         240,000

Accounts Receivable      90,000

Common Stock ($1 par) 400,000

Sales     940,000

Merchandise Inventory 70,000

Cost of Goods Sold         720,000

Unearned Revenue        18,000

Allowance for Doubtful Accounts             15,000

Operating Expenses       95,000

Accumulated Depreciation - Equipment 40,000

Paid-in Capital in Excess of Par Value, Common 40,000

Retained Earnings (1/1/2011)     27,000

Given these account balances, find the net income and total assets, total current assets and total owners' equity, using an income statement, balance sheet, and statement of owners' equity for December 31, 2011.