1. For each of them, identify whether the account is closed or not at the end of fiscal period.

• Allowance for Accounts Receivable

• Sales Revenue

• Unearned Revenue

• Bond Payable Discount

2. At January 1, 2019, Fuller Company had total assets of $900,000 and at December 31, 2019, its total assets were $1,100,000. Fullers net sales for 2019 were $850,000 and its 2019 net income was $55,000.

• Return on assets for 2019

• Profit margin (or Return on sales ratio) for 2019

• Asset turnover for 2019