8. Answer two of the questions below in 1-2 fully developed paragraphs. A fully developed

paragraph should have a major point with 3 to 5 support sentences. One or two sentences

is not acceptable or does not discuss the question. Be sure to show what you know!!!

1. Trap Adventures, Inc. is looking for an accountant. In your own words, explain to

Trap's hiring team the role of accountant and accounting within business. Provide

examples of the expectations of the accountant.

2. Discuss the financial position of Trap Adventures, Inc using the following ratios:

1. Current ratio

2. Return on equity

For each ratio, provide the calculation and an explanation of the meaning.

Is this a positive or negative result for the Trap Adventures, Inc.?

3. Using Trap Adventures, Inc.'s income statement, evaluate the operations for the

month of December. Complete a common-size income statement using sales as

the base number. What is the largest percentage? What is the smallest

percentage? What recommendations could be made to increase Trap's net

income?

4. Currently, Trap Adventures, Inc. does not own any loans or bank notes (long-term

liabilities). What would happen if Trap decides to obtain a bank loan for $25,000

to fund daily operations? How would this transaction impact the financial

statements - which accounts would be affected? What is the debt to equity ratio?

What does the debt to equity ratio represent?

I CAN'T FIND ANSWERS TO THIS ASSIGNMENT