Can you do exrcise1-18

Create the following table similar to the one in Exhibit 1.9. Liabilities + Equity Cash +Accounts +EquipmentAccounts +Common Dividends +Revenues Stock Check Net income. $6.000 Then use additions and subtractions to show the dollar effects of the transactions on individual items the accounting equation. Show new balances after each transaction. Swiss Group reports net income of $40,000 for 2017. At the beginning of 2017, Swiss Group had S in assets. By the end of 2017, assets had grown to $300,000. What is Swiss Group's 2017 return How would you assess its performance if competitors average an 11% return on assets? on assets? Analysis of return on assets A2 On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. On October 31, the company's records show the following items and amounts. Use this information to prepare an October income statement for the business. statement $ 2,000 14,000 3,550 7,000 760 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Common stock $11.360 14,000 3,250 46,000 18,000 8,500 84,000 Consulting revenue Rent expense Telephone expense Miscellaneous expenses ck Net income, $2,110 37 Consulting. 5 to prepare an October statement of retained earnings for Ernst Exercise 1-16 Preparing & statemen of lo Use the informatio The solution to Exercise 1-15 to prepare an October 31 balance sheet for Ernst C n in Exercise 1-16 can help. P2 Use the information in Consulting. Assume the following additional information. a. The owner's initial investment consists of $38,000 cash and $46,000 in land in exchange for its com- cash tows Exercise 1-18 Preparing a statement of Exercise 1-15 to prepare an October 31 statement of cash flows for Ernst P2 1 mon stock. b. The company's $18,000 equipment purchase is paid in cash. c. The accounts payable balance of $8,500 consists of the $3.250 office supplies purchase and $5.250 in Chack employee salaries yet to be paid. d. The company's rent, telephone, and miscellaneous expenses are paid in cash. e. No cash has been collected on the $14,000 consulting fees earned