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Chapter 3 Case Problem 1: KELLY'S BOUTIQUE You are to create Kelly's Boutique's financial analyses as of December 31, 2018, and as of December 31, 2019. Following the Chapter 3 examples, use the student file ch3-04.xls to create a vertical and horizontal analysis of the balance sheet and income statement in the columns provided. (Note: The horizontal analysis will compare December 31, 2018, with December 31, 2019.) Also cre- ate a pie chart of expenses for the year ended December 31, 2019; a column chart of expenses for the years ended December 31, 2018, and December 31 2019; and a ratio analysis as of December 31, 2019. Save the file as ch3-04_student_name.xls (replacing student_name with your name) Print each completed worksheet in Value view, with your name and date printed in the lower left footer and the file name in the lower right footer. Paste Alignment Numb B24 Kelly's Boutique Ratio Analysis December 2019 Profitability Return on owners investment Return on total investment Profit margin Gross margin 4% 4% 0%; 0%) 0% 10 Liquidity Current ratio Quick ratio 12 13 Receivable turnover 14 Inventory turnover Solvency 16 17 18 19 20 21 15 Debt-to-equity Liability Kelly's Boutique Income Statement For the Year Ended 31-Dec-18 31-Dec-19 $ 345,274.22 $400,000.00 164,217.74 210,000.00 181,056.48 190,000.00 %Of Sales 100% 53% 48% %Change 16% 28% 5% Sales Revenue Less: Cost of Goods Sold Gross Margin Expenses: Advertising Depreciation Interest $ 25,8 $25,871.45 28,000.00 8,431.22 7,000.00 15,574.15 16,000.00 105,487.51 109,000.00 4,732.84 5,000.00 10,847.00 9,000.00 10,112.31 16,000.00 3,784.44 5,000.00 6,327.87 $ 11,000.00 10 8% -17% 3% 3% 6% -17% 58% 32% 74% 12 4% 27% 190 13 Payroll 14 15 16 17 18 19 Supplies expense Utilities Net income before taxes 490 190 3% Income taxes Net income mulas Data Review Home Insert Draw Page Layout For Condit Format Cell St L' Book Antiqua Paste J13 F G Kelly's Boutique Balance Sheet as of 6 of Assets 90 Change 31-Dec-18 31-Dec-19 Current Assets: 8,213.50 6,000.00 5,571.95 45,000.00 60,214.5592,000.00 700.001,500.00 500.00 100% 1-27% Accounts Receivable Inventory Prepaid Rent Supplies Property, Plant, and Equipment: 114% 10 67% 19% -6% 12 1,000.00 25,000.00 00,000.00427,000.00 5,000.0033,000.00 14 15 16 17 18 Building Equipment Less: Accumulated Depreciation Total 43% (21,00000 (30,000.00) S 550,000.00 $600,000.00 Liabilities and Stockholders' Equity Liabilities 21 22 Accounts Payable 23 1 Current Liabilities S 29,663.39 40,000.00 4,124.145,000.00 72,000.0087,000.00 3,212.47 6,000.00 120,000.00 125,000.00 35% 21% 21% Income Tax Payable Notes Payable Mortgage Payable Common Stock 25 Payroll Liabilities 4% 27 Stockholders' Equity 301,000.00 306,000.00 20,000.00 31,000.00 290 55% 28 Retained Earnings Income Statement Balance Sheet Ratio Analysis+ Ready