CH Balance Sheet General Journal Income Statement Trial Balance Requirement Analysis General Ledger Enter your Return on Equity value to one decimal place and earnings per share value to 2 decimal places Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.30%, is the company more or less profitable than other companies in the same industry? ok The return on equity is: 1 Is the company more or less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2018? U ences The number of common shares outstanding as of January 31, 2018 is (C) Calculate earnings per share for the month of January (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2) Ieamings per share was $240 last year (.., an average of $0.20 per month). Is earnings per share for January 2018 better or worse than last year's average? Earnings per share is: Is earnings per share for January 2018 better or worse than last year's average? C Balance Sheet Credit Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Debit $ 44,200 47,500 9,000 79,000 $ 10,500 16,100 15,000 95,000 43,100 Totals $179,700 $179,700 During January 2018, the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $18,300. January Purchase additional supplies on account, $6,400. 10 January 12 Repurchase 1,000 shares of treasury stock for $22 per share. January 15Pay cash on accounts payable, $18,000. January 21Provide services to customers for cash, $50,600. January Receive cash on accounts receivable, $18,100. 22 January Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January Reissue 900 shares of treasury stock for $24 per share. 30 January 31Pay cash for salaries during January, $43,500. 29 The following information is available on January 31, 2018. The following information is available on January 31, 2018. a. Unpaid utilities for the month of January are $7,700. b. Supplies at the end of January total $6,600. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the e purchased, the company estimated a service life of three years and a residual value of $11,500. d. Accrued income taxes at the end of January are $2,600