Presented below is selected information related to Narrow Gage Company at December 31, 2014. Narrow. 1 answer below »

Presented below is selected information related to Narrow Gage Company at December 31, 2014. Narrow. 1 answer below »

Presented below is selected information related to Narrow Gage Company at December 31, 2014. Narrow Gage reports financial information monthly. Accounts Payable …………. $ 3,000 Cash ……………… 9,000 Advertising Expense …………. 6,000 Service Revenue ………….. 54,000 Equipment …………….. 29,000 Salaries and Wages Expense ………. $16,500 Notes Payable ………….. 25,000 Rent Expense ………….. 9,800 Accounts Receivable ……….. 13,500 Dividends ……………. 7,500 (a) Determine the total assets of Narrow Gage Company at December 31, 2014. (b) Determine the net income that Narrow Gage Company reported for December 2014. (c) Determine the stockholders’ equity of Narrow Gage Company at December 31, 2014.

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