AXA 10.3

All information is provided in the question.

The following accounts and related balances of Gull Designers, Inc., as of December 31, 2018, are arranged in no particular order: (Click the icon to view the account information.) Read the requirements Data Table 15,900 361,000 Cash ........ $ Accounts receivable, net............... Paid-in capital in excess of par-common Accrued liabilities Long-term note payable 43,000 22,000 22,000 26,000 96,000 94.000 6,000 ? 141,000 9,000 Interest expense.... .......$ Property, plant and equipment, net.. Common stock, $1 par, 900,000 shares authorized 114,000 shares issued Prepaid expenses Common stockholders' equity. December 31, 2017 Net income.. Total assets, December 31, 2017 ... . .. 114,000 26,000 Inventory Dividends payable Retained earnings Accounts payable Trademarks, net................... 230,000 80,000 496,000 Print Done Data Table 114,000 26,000 Accrued liabilities Long-term note payable Inventory Dividends payable Retained earnings ......... Accounts payable ..... Trademarks, net... Goodwill. 26,000 96,000 94,000 6,000 ? 141,000 9,000 12,000 900,000 shares authorized, 114,000 shares issued Prepaid expenses. Common stockholders' equity, December 31, 2017 Net income Total assets, December 31, 2017 ........ Treasury stock, 22,000 shares at cost 230,000 80,000 496,000 29,000 Net sales.. . ................ 975,000 Print Done Requirements 1. Prepare Gull's classified balance sheet in the account format at December 31, 2018. 2. Use a DuPont Analysis to calculate rate of return on total assets and rate of return on common stockholders' equity for the year ended December 31, 2018. 3. Do these rates of return suggest strength or weakness? Give your reason. What additional information might help you make your decision? Print Done