Question

1 Approved Answer

Posted on Sep 11, 2024

Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Other Current Assets Total Current Assets Property, Plant, and Equipment, net Total Assets Liabilities Current

Assets Current Assets: Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Other Current Assets Total Current Assets Property, Plant, and Equipment, net Total Assets Liabilities Current Liabilities: Accounts Payable Accrued Liabilities Total Current Liabilities Long-term Liabilities Notes Payable Mortgage Payable Total Long-term Liabilities Total Liabilities Stockholders' Equity Common Stock, \$ \\$ \\S, 50 \$ par, 450,000 shares issi 225,000 225,000 Paid-In Capital in Excess of Par Retained Earnings Total Stockholders' Equity 37 Total Liabilities and Stockholders' Equity \\begin{tabular}{rrr} \$ \\$ 125,000 \$ & \$ \\$ \$ & 119,000 \\\\ 660,000 & & 650,000 \\\\ 225,000 & 187,000 \\\\ 65,000 & 70,000 \\\\ 195,000 & 191,000 \\\\ \\hline \$ 1,270,000 \$ & \$ 1,217,000 \$ \\\\ 875,000 & 832,000 \\\\ \\hline\$ \\$ 2,145,000 \$ & \$ \\$ 2,049,000 \$ \\\\ \\hline \\end{tabular} \\begin{tabular}{rrr} \$ \\$ 265,000 \$ & \$ \\$ 246,750 \$ \\\\ 616,000 & 719,523 \\\\ \\hline 881,000 & 966,273 \\end{tabular} \\begin{tabular}{rr} 250,000 & 150,000 \\\\ 150,000 & 175,000 \\\\ \\hline 400,000 & 325,000 \\\\ \\hline \$ 1,281,000 \$ & \$ 1,291,273 \$ \\\\ \\hline \\end{tabular} 58,000 \\begin{tabular}{rr} 581,000 & 474,727 \\\\ \\hline 864,000 & 757,727 \\\\ \\hline\$ \\$ 2,145,000 \$ & \$ \\$ 2,049,000 \$ \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|l|} \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|l|} \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|l|} \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|l|} \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline & \\\\ \\hline \\end{tabular} NSTRUCTIONS: Use Excel to prepare a horizontial analysis of the balance sheet. Use the blue shaded areas for inputs. INSTRUCTIONS: Use Excel to prepare a vertical analysis of the Income Statement. Use the blue shaded areas for inputs. ZerCal Company Income Statement as of August 31, 2022 \\begin{tabular}{|l|r|r|} \\hline 7 & Net Sales & \$ \\$ 2,750,000 \$ \\\\ \\hline 8 & less: Cost of Goods Sold & \$ 1,614,250 \$ \\\\ \\hline\$ \\frac{9}{9} \$ & Gross Profit & \$ 1,135,750 \$ \\\\ \\hline 10 & Operating Expenses & 445,500 \\\\ \\hline 11 & Operating Income & 690,250 \\\\ \\hline 12 & \$ (12,000) \$ \\\\ \\hline 13 & Interest Inc/(Exp) & 678,250 \\\\ \\hline 14 & 169,563 \\\\ \\hline 15 & Net Income Tax Expense & \$ \\$ 508,688 \$ \\\\ \\hline \\end{tabular} \\begin{tabular}{|l|} \\hline\$ \\square \$ \\\\ \\hline \\\\ \\hline \\\\ \\hline \\\\ \\hline \\\\ \\hline \\end{tabular}