Accounting Cycle #3 100 points Saved 1 January 9 Provide services to customers on account, $16,700. January 10 Purchase additional supplies on account, $5,600. January 12 Purchase 1,000 shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, $17,200. January 21 Provide services to customers for cash, $49,800. January 22 Receive cash on accounts receivable, $17,300. January 29 Declare a cash dividend of $0.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 17,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 800 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,700. eBook The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $6,900. Print References b. Supplies at the end of January total $5,800. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,700. d. Accrued income taxes at the end of January are $2,700. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decimal place and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The return on equity is: Is the company more or less profitable than other companies? 2.8 % More (b) How many shares of common stock are outstanding as of January 31, 2024? The number of common shares outstanding as of January 31, 2024 is 16,800 (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) If earnings per share was $2.40 last year (i.e., an average of $0.20 per month), is earnings per share for January 2024 better or worse than last year's average? Earnings per share is: Is earnings per share for January 2024 better or worse than last year's average? $ 0.27 Better Prev 1 of 1 Next > Check my work