Brockbank Research Corp.
December 31, 2016
Accounts Payable			$ 46,160
Accounts Receivable			52,731
Accumulated Depreciation - Building			321,000
Accumulated Depreciation - Furniture, Fixtures & Equipment			23,000
Additional Paid In Capital - Common Stock			215,000
Allowance for Bad Debts			1,731
Buildings			503,000
Cash			25,383
Common Stock			35,000
Furniture, Fixtures, and Equipment			132,800
Inventories, December 31, 2016			201,620
Land			6,000
Bond Sinking Fund			3,600
Trademark			5,000
Bonds Payable (due in 2020)			18,000
Notes Payable - Banks (due in 2016)			23,540
Prepaid Insurance			5,500
Salaries payable			20,000
Retained Earnings, January 1, 2016			225,800
Sales			467,000
Inventories, January 1, 2016			285,850
Purchases			185,200
Purchase Returns			28,000
Freight In			17,950
Sales Salaries and Commissions			34,300
Insurance Expense			6,090
Depreciation Expense - Building			6,100
Depreciation Expense - Furniture, Fixtures & Equipment			4,800
Interest Expense			700
Utilities Expense			2,400
Miscellaneous Selling Expenses			2,200
Officer's Salaries Expense			29,400
Office Salaries Expense			22,500
Gain on Sale of Equipment			19,875
Dividends Paid 1. Using the General Ledger on the attached page, you are to prepare the following financial statements in Excel (Make sure you include the heading on each financial statements Name of Company, Name of Statement, and the Correct Date): a. Properly classified Balance Sheet b. Multiple Step Income Statement c. Statement of Shareholders Equity a. For the year ended December 31, 2016, the income tax rate is 40%. Check figure: Income tax expense of $47,602. b. In addition, the average number of shares issued and outstanding at the end of the year are 10,000 shares at $3.50 par value. This was the same amount that was outstanding as of the beginning of the year. Information needed to calculate the Earnings Per Share 1. Calculate the following ratios using the financial statements you prepared: a. Calculate the 2016 current ratio b. Calculate the 2016 quick ratio (Brockbanks quick assets consist of cash and net receivables) c. Calculate the 2016 operating profit margin 2.			65,000