Accounting Equation and Income Statement Staples, Inc. (SPLS) is a leading office products distributor, with retail stores in the United States, Canada, Asia, Europe, and South America. The following financial statement data were adapted from recent financial statements of Staples: Year 2 Year 1 (in millions) (in millions) Total assets $8,271 $10,172 Total liabilities (1) 4,788 Total stockholders' equity 3,696 (2) Sales 18,247 Cost of goods sold 13,489 Operating expenses 4,967 Other expense (net) 143 Income tax expense 107 Enter all amounts as positive numbers. a. Determine the missing data indicated for (1) and (2). Total liabilities for Year 2 millions Total stockholders' equity for Year 1 millions b. Using the income statement data for Year 2, determine the amount of net income or net loss. Income Statement JLM Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows: Fees earned $2,550,000 Wages expense 1,612,500 Miscellaneous expense 41,250 Rent expense 240,000 Supplies expense 22,500 Prepare an income statement for the month ended August 31. JLM Services Income Statement For the Month Ended August 31, 20Y5 Fees earned Operating expenses: Wages expense Rent expense Supplies expense Miscellaneous expense Total operating expenses Net incomeReturn on assets Pfizer Inc. (PFE) discovers, produces, and distributes medicines, including Celebrex and Lipitor. Ford Motor Co. (F) develops, markets, and produces automobiles and trucks. Microsoft Corporation (MSFr) develops, produces, and distributes a variety of computer software and hardware products including Windows, Ofce, Excel, and the Xbox. 1. The following data (in millions) were taken from recent financial statements of each company: Pzer Ford Microsoft Net income $21,308 $7,628 $21,204 Total assets at the beginning of the year 171,615 237,951 193,468 Total assets at the end of the year 171,797 257,808 241,086 Compute the return on assets for each company using the preceding data, and rank the companies' return on assets from highest to lowest. Round the return on ) assets to one decimal place. Return on assets Rank Pfizer :] % 1W\" ~/ Ford C] % 1w\" V Microsoft C] % 1W\" 4 Return on assets ExxonMobil Corporation (XOM) explores, produces, and distributes oil and natural gas. The Coca-cola Company (KO) produces and distributes soft drink beverages, including Coke. WalMart Stores, Inc. (WMT) operates retail stores and supermarkets. 1. The following data (in millions) were taken from recent financial statements of each company: ExxonMobil Coca-cola WalMart Net income $19,710 $1,248 $10,523 Total assets at the beginning of the year 330,314 87,270 198,825 Total assets at the end of the year 348,691 87,896 204,572 Compute the return on assets for each company using the preceding data, and rank the companies' return on assets from highest to lowest. Round the return on assets to one decimal place. Return on Assets Rank ExxonMobil Rank 1 Coca-Cola % Rank 3 WalMart Rank 2Accounting Equation Determine the missing amounts (in millions) for the condensed balance sheets shown below. Costco Target Walmart (COST) (TGT) (WMT) Assets $36,347 $38,999 tA Liabilities 25,268 123,700 Stockholders' equity 11,709 80,822Statement of stockholders' equity Financial information related to All Seasons Company for the month ended June 30, 20Y7, is as follows: Common stock, June 1, 20Y7 $30,000 Stock issued in June 20,000 Net income for June 87,500 Dividends during June 15,000 Retained earnings, June 1, 20Y7 145,000 Prepare a statement of stockholders' equity for the month ended June 30, 20Y7. If an amount is zero, enter "0". All Seasons Company Statement of Stockholders' Equity For the Month Ended June 30, 20Y7 Common Stock Retained Earnings Total Balances, June 1, 20Y7 Issuance of common stock V Net income Dividends Balances, June 30, 20Y7 VIncome Statement JLM Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows: Fees earned $2,550,000 Wages expense 1,612,500 Miscellaneous expense 41,250 Rent expense 240,000 Supplies expense 22,500 Prepare an income statement for the month ended August 31. JLM Services Income Statement For the Month Ended August 31, 20Y5 Fees earned $ Operating expenses: Wages expense Rent expense Supplies expense Miscellaneous expense Total operating expenses Net income