Liner Company has the following adjusted trial balance at December 31, 2017. No dividends were declared; however, 400 additional shares were issued during the year for $2,000:

Required:1. Prepare a statement of earnings in good form for 2017. Include earnings per share.2.?Prepare closing?entries?and?post?the effects?to the appropriate?ledger?accounts.3.?Prepare?a?statement of?financial?position?in?good?form at?December?31,?2017.4. Compute Liner Company's net profit margin ratio and return on equity for the year. What do these ratios mean'?

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Debit Credit $ 2,700 Cash Accounts receivable Interest receivable Prepaid expenses Notes receivable 3,000 120 600 3,000 Equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Deferred rent revenue Contributed capital (500 shares) Retained earnings Sales revenue Interest revenue Rent revenue Wages expense Depreciation expense Utilities expense Insurance expense Rent expense Income tax expense 12,000 $ 2,000 1,600 3,820 2,900 600 2,400 1,000 45,000 120 300 20,600 2,000 1,220 600 10,000 3,900 $59,740 Total $59,740