Analysis: What is the companys cash position, its net income as a percentage of sales, and its current liabilities to current assets position? based on the following financial statements, if you can please explain in detail how its obtained or what to look for so I can understand it'll be greatly appreciated. Thank you in advanced.
A Company Income Statement For Qtr. Ending 12/31/20XX Revenues Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold Gross Profit 60.000.00 221.00 60,221.00 157.60 60,063.40 Statement of Stockholder's Equity For Qtr. Ending 12/31/20xx Common Stock Retained Earnings Total Beginning Balances, September 30 0 0 Issued Common Stock 30,000.00 Net Income 32,124.40 Dividends (10,000.00) Ending Balances, December 31: 30,000.00 22,124.40 0 30,000.00 32,124.40 (10,000.00) 52,124.40 A Company Balance Sheet As of December 31, 20XX Operating Expenses: Rent Expense Insurance Expense Depreciation Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Baking Supplies Expense Interest Expense 4.500.00 200.00 208.00 250.00 550.00 375.00 200.00 1,956.00 150.00 19,400.00 150.00 Assets Current Assets: Cash Accounts Receivable Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable Total Current Liabilities Baking Supplies 7,000.00 480.00 150.00 7,630.00 Merchandise Inventory Prepaid Rent Prepaid Insurance Office Supplies Total Current Assets 51,436.75 9,700.00 1,100.00 175.65 1,500.00 1,000.00 50.00 64,962.40 Long Term Liabilities: Notes Payable Total Long Term Liabilities: : 10,000.00 10,000.00 Total Liabilities: 17,630.00 Total Operating Expenses: 27,939.00 Net Income 32,124.40 Shareholder's Equity: Common Stock Retained Earnings 30,000.00 22124.4 Non-Current Assets: Baking Equipment Accumulated Depreciation Baking Equipment (Net) 5,000.00 ( (208.00) 4,792.00 Total Equity 52,124.40 Total Assets: 69,754.40 Total Liabilities & Equity 69,754.40 A Company Closing Entries Qtr ending 12/31/20xx A Company Post-Closing Trial Balance Qtr. Ending 12/31/20xx Credit Date Accounts 31-Dec Bakery Sales Merchandise Sales Retained Earnings Debit 60,000.00 221.00 60,221.00 28,096.60 31-Dec Retained Earnings Baking Supplies Expense Rent Expense Wages Expense Office Supplies Expense Business License Expense Office Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense COGS 19,400.00 4,500.00 1,956.00 550.00 375.00 250.00 208.00 200.00 200.00 150.00 150.00 157.60 Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Accounts Payable Wages Payable Interest Payable Notes Payable Common Stock Retained Earnings Unadjusted Trial Balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.00 50.00 9,700.00 7,000.00 480.00 150.00 10,000.00 30,000.00 22,124.40 10,000.00 31-Dec Retained Earnings Dividends 10,000.00 Total 69,962.40 69,962.40
