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Bernoulli Glass Company provides the following information at the end of its current year: Sales revenue earned during the year 120,000 Cash remaining at end

Bernoulli Glass Company provides the following information at the end of its current year:

Sales revenue earned during the year

120,000

Cash remaining at end of year

13,200

Salaries owed to employees at end of year

2,000

Accounts receivable from customers

7,700

Loan borrowed from bank that is due in two years

8,800

Cost of equipment purchased in prior years, expected to last four more years

14,000

Salary earned by employees during the year

6,400

Cost of inventory sold during the year

8,500

Inventory purchases that are still unpaid and owed to suppliers at end of year

3,900

Dividends declared and paid during the year

14,900

Capital contributions received from shareholders during prior years

44,000

Capital contributions received from shareholders during the current year

1,000

Cost of delivery van purchased at end of year; expected to last six years

26,200

Cost of research expenditures sustained during the year

17,900

Retained earnings at end of year

?

Cost of rent used up during the year

25,000

Income taxes paid during the year attributable to income earned during the year

15,600

Cost of inventory still on hand at end of year

32,400

Retained earnings at beginning of year

2,100

Required:

  • Using this information, prepare (1) a classified income statement and (2) a classified balance sheet, for Bernoulli Glass Company.
  • After preparing these reports, calculate Bernoulli Glass Companys (3) debt-equity ratio and (4) gross profit margin.

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