\begin{tabular}{|l|l} \hline December 31: On January 1, Byte received $214,878.00 when they issued a $200,000.00,7%, \end{tabular} 34. ten-year bond. Interest is to be paid semiannually on June 30 and December 31 . The market rate was 6%. This entry was never recorded. \begin{tabular}{l||l||l|} \hline & & Closing Entries: \\ \hline & & Record the closing entries to Retained Earnings in the general journal and post to the general \\ 6 & ledger. \\ \hline & & \\ \hline 8 & 50. & Close the revenue accounts \\ \hline 9 & & \\ \hline 10 & 51. & Close the expense accounts \\ \hline 11 & & \\ \hline 12 & 52. & Close the dividend account \\ \hline 13 & & \\ \hline 14 & A. & Prepare the Post Closing Trial Balance \\ \hline 15 & & \\ \hline 16 & B. & Complete the Ratio Analysis \\ \hline 17 & & Current Ratio \\ \hline 18 & & Receivable Turnover \\ \hline 19 & & Average Collection Period \\ \hline 20 & & Inventory Turnover \\ \hline 21 & & Average Days in Inventory \\ \hline 22 & & Gross Profit Rate \\ \hline 23 & & Profit Margin \\ \hline 24 & Earnings per Share (EPS) \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l} \hline December 31: On January 1, Byte received $214,878.00 when they issued a $200,000.00,7%, \end{tabular} 34. ten-year bond. Interest is to be paid semiannually on June 30 and December 31 . The market rate was 6%. This entry was never recorded. \begin{tabular}{l||l||l|} \hline & & Closing Entries: \\ \hline & & Record the closing entries to Retained Earnings in the general journal and post to the general \\ 6 & ledger. \\ \hline & & \\ \hline 8 & 50. & Close the revenue accounts \\ \hline 9 & & \\ \hline 10 & 51. & Close the expense accounts \\ \hline 11 & & \\ \hline 12 & 52. & Close the dividend account \\ \hline 13 & & \\ \hline 14 & A. & Prepare the Post Closing Trial Balance \\ \hline 15 & & \\ \hline 16 & B. & Complete the Ratio Analysis \\ \hline 17 & & Current Ratio \\ \hline 18 & & Receivable Turnover \\ \hline 19 & & Average Collection Period \\ \hline 20 & & Inventory Turnover \\ \hline 21 & & Average Days in Inventory \\ \hline 22 & & Gross Profit Rate \\ \hline 23 & & Profit Margin \\ \hline 24 & Earnings per Share (EPS) \\ \hline & & \\ \hline \end{tabular}