Accounts Debit Credit Cash $ 42,700 Accounts Receivable 44,500 Supplies 7,500 Equipment 64,000 Accumulated Depreciation $ 9,000 Accounts Payable 14,600 Common Stock, $1 par value 10,000 Additional Paid in Capital 80,000 Retained Earnings 45,100 Totals $158,700 $158,700 During January 2018, the following transactions occur January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000 January 9 Provide services to customers on account, $14,300 January 10 Purchase additional supplies on account, $4,900 January 12 Repurchase 1,000 shares of treasury stock for $18 per share January 15 Pay cash on accounts payable, $16,500 January 21 Provide services to customers for cash, $49,100 January 22 Receive cash on accounts receivable, $16,600 January 29 Declare a cash dividend of $0 30 per share to all shares outstanding on January 29 The dividend is payable on February 15 (Hint Grand Finale Fireworks had 10,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock ) January 30 Reissue 600 shares of treasury stock for $20 per share January 31 Pay cash for salaries during January, $42,000 Enter your answer as a whole number (ie 5 should be entered as 5, not 05) 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 5 , is the company more or less profitable than other companies in the same industry he return on equity is Is the company more or less profitable than other companies (b) How many shares of common stock are outstanding as of January 31, 2018 The number of common shares outstanding as of January 31, 2018 is (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 $3 60 last year (i e , an average of S0 30 per month), is earnings per share for January 2018 better or worse than last year's average Earnings per share is Is earnings per share for January 2018 better or worse than last year's average

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Accounts Debit Credit Cash $ 42,700 Accounts Receivable 44,500 Supplies 7,500 Equipment 64,000 Accumulated Depreciation $ 9,000 Accounts Payable 14,600 Common Stock, $1 par value

Accounts	Debit	Credit
Cash	$ 42,700
Accounts Receivable	44,500
Supplies	7,500
Equipment	64,000
Accumulated Depreciation		$ 9,000
Accounts Payable		14,600
Common Stock, $1 par value		10,000
Additional Paid-in Capital		80,000
Retained Earnings		45,100

Totals	$158,700	$158,700

During January 2018, the following transactions occur:

January 2	Issue an additional 2,000 shares of $1 par value common stock for $40,000.
January 9	Provide services to customers on account, $14,300.
January 10	Purchase additional supplies on account, $4,900.
January 12	Repurchase 1,000 shares of treasury stock for $18 per share.
January 15	Pay cash on accounts payable, $16,500.
January 21	Provide services to customers for cash, $49,100.
January 22	Receive cash on accounts receivable, $16,600.
January 29	Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15.
	(Hint: Grand Finale Fireworks had 10,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.)
January 30	Reissue 600 shares of treasury stock for $20 per share.
January 31	Pay cash for salaries during January, $42,000.

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Enter your answer as a whole number (ie. 5% should be entered as 5, not .05). 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 2.5%, is the company more or less profitable than other companies in the same industry? he return on equity is Is the company more or less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2018? The number of common shares outstanding as of January 31, 2018 is (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 $3.60 last year (i.e., an average of S0.30 per month), is earnings per share for January 2018 better or worse than last year's average? Earnings per share is Is earnings per share for January 2018 better or worse than last year's average