6 Account 7 Number Name Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit 8 1110 Cash 149,369.00 9 1120 Accounts Receivable 13,893,00 25.00 8,105,00 Debit 149,394.00 Credit Debit Credit Debit Credit 21,998.00 10 1121 Allowance for Doubtful Accoun 38.00 38.00 11 1130 Prepaid Insurance 6,696.00 279.00 6,417.00 12 1140 Prepaid Rent 2,600.00 2,600.00 13 1150 Supplies 3,150.00 2,680.00 470.00 14 1160 Inventory 128.00 128.00 15 1211 Office Equipment 73,700.00 73,700,00 16 1212 Accum. Depr.-Office Equip. 6,600.00 6,668.33 13,268.33 17 1311 Computer Equipment 21,000.00 21,000.00 18 1312 Accum. Depr.-Computer Equip. 4,200.00 4,200.00 19 2101 Accounts Payable 15,980.00 4,065.00 8,400.00 20,045,00 20 2102 Unearned Revenue 8,965.00 8,965.00 21 2103 Interest Payable 22 2105 Salaries and Wages Payable 20.70 1,260.00 20.70 1,260.00 23 2106 Income Taxes Payable 24 2202 Notes Payable 4,140.00 4,140.00 25 2210 Bond Payable 26 2212 Premium on Bond Payable 27 3100 Common Stock - 106,000.00 106,000.00 28 3120 Paid-In Capital in Excess of Par 37,100.00 37,100.00 29 3200 Retained Earnings 24,000.00 24,000.00 30 3300 Dividends 2,650.00 2,650.00 31 32 4100 Sales Revenue 443,949.00 8,130.00 452,079.00 33 5010 Rent Expense 31,200.00 31,200.00 34 5020 Salaries and Wages Expense 98,700.00 1,260.00 99,960.00 35 5030 Advertising Expense 4,635.00 4,635.00 36 5040 Maintenance & Repairs Expense 15,105.00 15,105.00 37 5080 Supplies Expense 2,680.00 2,680.00 38 5090 Interest Expense 39 5100 Insurance Expense 40 5110 Depreciation Expense 299.70 10,868.33 299.70 10,868.33 41 5120 Bad Debt Expense 42 5140 Telephone and Internet Expense 5,920.00 5,920.00 43 5150 Income Tax Expense 44 5300 Cost of Goods Sold 222,226.00 4,065.00 226,291.00 45 46 47 TOTAL 650,972.00 650,972.00 27,303.03 27,303.03 675,316.03 675,316.03 48 NET INCOME 49 Balance 50 1 11 12 13 2345678901234 15 16 17 18 19 20 21 22 23 24 25 26 1561 27 28 29 30 31 32 A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2021 Revenues Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salaries and Wages Expense Advertising Expense Maintenance & Repairs Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone and Internet Expense Total Net Income Before Tax Income Tax Expense (Round to tum decimal placor) Net Income After Tax co 8 6 1 2 3 4 G5 5 Balance, Beginning of Period Issue of Common Stock 9 Cash Dividends 10 11 123 13 14 Net Income Balance, End of Period A Byte of Accounting, Inc. Statement of Stockholders' Equity For Year Ending December 31, 2021 Common Stock Paid-In Capital in Retained Excess of Par Total Stockholders' Earnings Equity Balance Sheet As of December 31, 2021 Assets Current Assets Cash Accounts Receivable Allowance for Doubtful Accounts Net Receivable Prepaid Insurance Prepaid Rent Supplies Inventory Total Long-Term Assets Office Equipment Accum. Depr.-Office Equip. Net Office Equipment Computer Equipment Accum. Depr.-Computer Equip. Net Computer Equipment Total Total Assets 234567890122156162222222222222333333 Liabilities Current Liabilities Accounts Payable Unearned Revenue Interest Payable Salaries and Wages Payable Income Taxes Payable Total Net Office Equipment Computer Equipment Accum. Depr.-Computer Equip. Net Computer Equipment Total Total Assets Liabilities Current Liabilities Accounts Payable Unearned Revenue Interest Payable Salaries and Wages Payable Income Taxes Payable Total Long-Term Liabilities Notes Payable Bond Payable Premium on Bond Payable Net Bond Payable Total Total Liabilities Stockholder's Equity Paid-in Capital Common Stock Paid-In Capital in Excess of Par Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Cash Flow from Operating Activities Net Income Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expenses Change in accounts receivable Change in prepaid Insurance Change in prepaid rent Change in supplies Change in inventory Change in payables* Change in income tax payable Net cash flows from operations Cash Flows from Investing Activities Purchase of equipment Net cash flows from investing activities Cash Flows from Financing Activities Issuance of common stock Proceeds from issuance of bonds payable Payment of cash dividends Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period Purchased equipment by issuing note payable 28 29 30 31 32 33 34 Noncash Activities 35 36 37 38 39 40 41 42 *Change in payables Accounts Payable 43 Advanced Payment 44 Interest Payable 16 Salaries Davable Account Number Name 1110 Cash A Byte of Accounting, Inc. Post Closing Trial Balance As of December 31, 2021 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Supplies 1160 Inventory 1211 Office Equipment 1212 Accum. Depr.-Office Equip. 1311 Computer Equipment 1312 Accum. Depr.-Computer Equip. 2101 Accounts Payable 2102 Unearned Revenue 2103 Interest Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 2202 Notes Payable 2210 Bond Payable 2212 Premium on Bond Payable 3100 Common Stock 3120 Paid-In Capital in Excess of Par 3200 Retained Earnings Total Debit Credit 3 4 6 7 8 Current ratio = 9 10 11 Accounts Receivable Turnover ratio = 12 13 14 Average collection period = 15 16 17 Inventory turnover ratio = 18 19 20 Days in inventory 21 22 = 23 Gross margin ratio = 24 25 26 Profit Margin 27 28 29 Earnings per share 30 31 = A Byte of Accounting Ratios For Year Ending December 31, 2021 Please round to two places