4:21 X LA_ DOCX - 110 KB LEARNING ACTIVITY 2 Jacob Dougn recently graduated from Yorkville University with a BBA. Jacob was hired as a Finance manager at Do We Inc. and makes $125,000 per year. Jacob was always an honest and ethical student never cheating on any Learning Activities. As a result, Jacob's manager gave a very important project for to complete. Using the accounts below prepare an Income Statement and Balance Sheet. Then write a brief paragraph on how the company can improve its profitability. ACCOUNT Wages Payable Unearned Revenue Accounts Payable Accounts Receivable Marketing Expense Prepaid Rent Service Revenue Advertising Expense Cash Depreciation Fuel Interest Expense Marketable Securities AMOUNT 22,000 10,000 95,000 25,000 97,000 15,000 329,000 33,000 100,000 15,000 22,000 5,000 10,000 ACCOUNT Inventory Interest Revenue Land Accumulated Depreciation Equip Short term Notes Payable Mortgage Tax Payable Common Stock Equipment Goodwill Insurance Expense Tax Rate Retained Earnings AMOUNT 125,000 18,000 500,000 55,000 82,000 490,000 32,000 250,000 350,000 86,000 75,000 40% 175,000 Open Word CA 4:21 X LA_ DOCX - 110 KB LEARNING ACTIVITY 2 Jacob Dougn recently graduated from Yorkville University with a BBA. Jacob was hired as a Finance manager at Do We Inc. and makes $125,000 per year. Jacob was always an honest and ethical student never cheating on any Learning Activities. As a result, Jacob's manager gave a very important project for to complete. Using the accounts below prepare an Income Statement and Balance Sheet. Then write a brief paragraph on how the company can improve its profitability. ACCOUNT Wages Payable Unearned Revenue Accounts Payable Accounts Receivable Marketing Expense Prepaid Rent Service Revenue Advertising Expense Cash Depreciation Fuel Interest Expense Marketable Securities AMOUNT 22,000 10,000 95,000 25,000 97,000 15,000 329,000 33,000 100,000 15,000 22,000 5,000 10,000 ACCOUNT Inventory Interest Revenue Land Accumulated Depreciation Equip Short term Notes Payable Mortgage Tax Payable Common Stock Equipment Goodwill Insurance Expense Tax Rate Retained Earnings AMOUNT 125,000 18,000 500,000 55,000 82,000 490,000 32,000 250,000 350,000 86,000 75,000 40% 175,000 Open Word CA