CON8476 Business Principles Assignment 1 The purpose of Assignment 1 is to allow students an opportunity to apply the principles of the effects on financial statement and value financial. For the following assignments do not worry about HST - The following assignment can be prepared on any type of paper Question 1/ In reference to the balance sheet (for Clarke Construction Limited) below, complete the blanks for the - Total Assets - Total Current Assets Account Receivable BALANCE SHEET CURRENT ASSETS CURRENT LIABILITY Accounts Payable Total Current Liability $3,000 $6,600 Accounts Receivable $13,150 $9,600 Total Current Assets FIXED LIABILITY Mortgage Loan Notes Payable Total Liabiity FIXED ASSETS $5,000 $35.000 $14,500 $1,800 11,500 $67,800 Banks Equipment Loan Total Fixed Liability $1,100 $19,900 $9,600 Land Buildings Furniture Automobile Sub Total Less Depreciation 8,100)Share Capital $40,700 SHAREHOLDERS EQUITY $10,000 Total Fixed Assets $59,700 Retained Earnings TOTAL ASSETS Question 2/Using the financial statements for Genstar Engineering, calculate the financial ratios and discuss what they mean 1. Quick Ratio 2. Debt to Equity Ratio CON8476 Business Principles 3. Profit margin-pretax and after-tax TAR ENGINEERING SHEET CURRENT ASSETS Accounts Receivable $3,100 Office Supplies Market Security Pre-Paid Expenses $760 Total Current Assets CURRENT LIABILITY Account Payable $1500 Notes Payable Contracts Payable $2.500 Unpaid Wages Total Current Liability $1,000 $1,000 $5,500 $12,140 FIXED ASSETS FIXED LIABILITY Office Equipment $4,200 Field Equipment Contract Payable $2,000 Notes Payatie 1,000 $3,000 $9.250 3,000 Total $8,500 NET WORTH 6.850 Owner Net Worth S18990 TOTAL LIABILITY & Nw $18 Total Fixed Assets $10,490 OTAL ASSETS NSTAR ENGINEERING STATEMENT Sales Revenue $96,000 Rent Expense Salaries To Employees $37,000 Supplies Used Insurance Expense Courier Expense $1,000 Interost Expense Net Profit Before Tax Less Income Tax Net Profit After Tax $47,400 $18.960