Prepare an income statement and a balance sheet for the coffee hut for a future year. Then you will various ratio analyses, and a contribution margin analyses to see how sues business is doing.

The template includes all the data necessary to complete the two financial statements, and ratio analyses. but the financial statement data is in random order, so you must determine where in each financial statement the items should be placed> complete the income statement fist since the income will affect the stockholders equity on the balance sheet note that you need to calculate cost of goods sold for the income statement next complete the balance sheet taking into account the effect the net income has on stock holders equity make sure the balance sheet meets the accounting equation now you can complete you?re ratio analyses. after completing the ratios add a brief analyses about what each ratio means for the coffee huts financial position and results of operations> the final step is to complete the contribution margin question. if the goods sold is the only variable cost and the contribution margin per drink is $3.40, how many coffee drinks did the coffee hut sell? What was the average selling price?

Current year: Sales 540,000 Inventory purchases 162,000 Sales and marketing expenses 49,000 Accounts receivable 23,000 Accumulated depreciation 23,000 5,000 5,000 25,000 Accrued expenses Interest expense Inventory - current year Dividends Shares outstanding Prior year: Accounts receivable Inventory ACC201 Final Project Total assets Common stock Retained earnings Shares outstanding none 50,000 18,000 23,000 174,000 50,000 26,000 50,000 Current year: Operating expenses Cash Prepaid expenses Note payable - current Administrative expenses Common stock Equipment Accounts payable Long-term note payable Supplies Beginning inventory Goods available Cost of goods sold 229,000 33,000 9,000 10,000 60,000 50,000 108,000 13,000 45,000 11,000