6. Write a memo to Dave/owner from the accountant's perspective. This memo should address the company for the first quarter and: o Explain the personal liability of the owner as a sole-proprietorship; how can this be addressed o Include 2 positive comments (what is Dave doing well: these could be something Dave does or from a financial perspective, i.e. current ratio, profitability, products...) o Include 2 "things to improve on" o Memo must be a minimum of 150 words Balance 27,413.67 2018 DM Yard Services Reconciliation Detail DM Yard Services, Checking, Period Ending 03/31/2019 Type Date Num N ame Clr Amount Beginning Balance Cleared Transactions Checks and Payments 4 items 03/03/2019 Check 1006 -1,750 00 John Smith 03/15/2019 Bill Pmt -Check 1008 -6.428 60 JS Garden Supply 03/15/2019 Check -712 51 1007 Check 03/31/2019 - 15.00 Total Checks and Payments -8.906.11 -8.906.11 Total Cleared Transactions -8.906.11 Cleared Balance Uncleared Transactions Checks and Payments - 3 items 02/25/2019 Check 1003 -387.45 Office City Bal Pmt -Check 03/15/2019 1009 Tom George -850 00 03/31/2019 Check 1010 -500.00 Dave Michaels Total Checks and Payments - 1,737 45 -1.737 45 Total Uncleared Transactions - 10.643 56 Register Balance as of 03/31/2019 -10,643.56 Ending Balance -1.750 00 -8.178.60 -8 89111 -8.906 11 -8.906.11 -8.906.11 16,507 56 387.45 -123745 -1737 45 -1,737.45 -1.737.45 16.770 11 16,770.11 Note: Make sure your reconciled cash balance agrees with checking account balance on trial balance. 2018 DM Yard Services Trial Balance As of March 31, 2019 Mar 31, 19 Debit Credit DM Yard Services, Checking 16.770.11 Petty Cash 200.00 Accounts Receivable 2.280.10 Inventory Asset 5.327 80 Lawn and Landscaping Equipment 4.500.00 Leasehold Improvements 850.00 Office Equipment 787.50 Truck 18,200.00 Security Deposit 1.000.00 Accounts Payable 4.700.00 Credit Card Payable 270.00 Sales Tax Payable 38.10 D. Michaels, Capital 48 200 00 D. Michaels, Draw 1,648 01 Sales Revenue: Mulch Sales 1.472 00 Service Revenue:Landscaping Services 770.00 "Cost of Goods Sold:Mulch Costs 1.232.00 Purchase Discounts 131.20 Auto and Truck Expenses 195.00 Bank Service Charges 45.00 Office Supplies 642.60 Rent Expense 750.00 Small Tools and Equipment 923.18 Telephone Expense 80.00 Utilities 150.00 TOTAL 55,581.30 55,581.30