Canyon Corporation
the Accountant for the Canyon Corporation Prepared the Following

Canyon Corporation
The accountant for the Canyon Corporation prepared the following list from the company's accounting records for the year ended December 31, 2016: $$\begin{array} { l r l r } \text { Retained earnings } & ? & \text { Prepaid expenses } & \$ 3,000 \\\text { Cash } & \$ 7,000 & \text { Common stock } & 40,000 \\\text { Accounts payable } & 15,000 & \text { Accounts receivable } & 17,000 \\\text { Sales revenue } & 125,000 & \text { Interest income } & 500 \\\text { Cost of sales } & 70,000 & \text { Salary expense } & 4,000 \\\text { Land } & 75,000 & \text { Income tax expense } & 200 \\\text { Notes payable } & 15,000 & \text { Selling expense } & 45,000 \\\text { Inventory } & 20,000 & \text { Salaries payable } & 5,000\end{array}$$ ​
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-Read the information for Canyon Corporation.Determine the following amounts for Canyon Corporation: A) Total revenues for 2016.             -------------------------
B) Total expenses for 2016.             -------------------------
C) Net income for 2016.             -------------------------