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Calculate Quick Ratio, Debt Ratio, Profit Margin for 2028, 2027. Thanks Percent Change Legal Services Co. Comparative Balance Sheet December 31, 2027 and December 31,
Calculate Quick Ratio, Debt Ratio, Profit Margin for 2028, 2027.
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Percent Change Legal Services Co. Comparative Balance Sheet December 31, 2027 and December 31, 2028 Dollar 2028 2027 Change Assets: Cash $ 33,000.00 $ 24,300.00 $ (8,700.00) Petty Cash 1,250.00 1,250.00 $ Supplies 7,400.00 6,500.00 $ (900.00) Land 50,000.00 50,000.00 $ Total Assets $ 91,650.00 $ 82,050.00 $ (9,600.00) Liabilities: Accounts Payable 3,600.00 4,700.00 $ 1,100.00 Owner's Equity: Jean Evans, Capital 88,050.00 77,350.00 $ (10,700.00) Total Liabilities & Owner's Equity $ 91,650.00 $ 82,050.00 $ (9,600.00) -35.80% 0.00% -13.85% 0.00% -11.70% 23.40% -13.83% -11.70% Legal Services Co. Common-Size Income Statement For the Years Ended December 31, 2027 and December 31, 2028 2028 Dollar 2027 Dollar 2028 2027 Amount Amount Percentage Percentage Revenues: Service Revenue $ 351,800 $ 394,200 100.00% 100.00% Expenses: Wages Expense 114,500 107,600 32.55% 27.30% Insurance Expense 31,300 30,300 8.90% 7.69% Advertising Expense 102,800 98,500 29.22% 24.99% Maintenance Expense 32,300 18,600 9.18% 4.72% Computer Expense 4,360 12,400 1.24% 3.15% Supplies Expense 3,250 3,600 0.92% 0.91% Total Expenses 288,510 271,000 82.01% 68.75% Net Income 63,290 123,200 17.99% 31.25%Step by Step Solution
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