Baltimore Company reports total assets and total liabilities

Baltimore Company reports total assets and total liabilities
of $241,000 and $85,000, respectively, at the conclusion, of its first year of business. The company earned $81,500 during the first year, and distributed $35,000 to shareholders as dividends. How much did shareholders initially invest in the business?
-During 2018, Towson Company had credit sales of $40,000 and cash sales of $16,000. In 2018 Towson collected $31,000 of accounts receivable resulting from sales on credit. Towson incurred operating expenses of $45,000; of this amount, $42,900 was paid in 2018, and the remaining balance represented a liability at year-end. In addition to these operating expenses, Towson also purchased for cash a three-year insurance policy on January 1, 2018. The cost of this policy was $9,000. What is Towson’s 2018 accrual basis net income or loss? Enter a loss as a negative number.
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The following is the Frederick Company’s adjusted Trial Balance.
Frederick Company
Adjusted Trial Balance
December 31, 2018
Account Title | Debit |Credit
Cash |$85,150
Accounts Receivable |229,140
Supplies |16,955
Equipment |395,285
Accumulated Depreciation |221,260
Accounts Payable |74,235
Capital Stock |220,000
Retained Earnings |101,145
Service Revenue |893,105
Interest Income |1,500
Dividends | 2,000
Rent Expense | 58,500
Wages Expense | 527,260
Supplies Expense | 42,520
Utilities Expense | 8,595
Depreciation Expense | 145,840
Totals |1,522,565

Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations. Hint: you must close out temporary accounts to arrive at adjusted retained earnings balance.

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