Correct my mistakes please and give explanation if possible thank you.
-General journal
-Balance sheet
-Analysis
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Debit $ 43,600 46,300 8,400 73,000 Credit Accounts Cash Accounts Receivable Supplies Equipment Accunulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings $ 9,900 15,500 19,000 89,000 37,900 $171,300 $171,300 Totals During January 2021, the following transactions occur January 2 Issue an additional 2,100 shares of $1 par value common stock for $42,000 January 9 Provide servicesIto customers on account, $16,300. January 10 Purchase additioal supplies on account, $5,800 January 12 Purchase 1,200 shares of treasury stock for $22 per share. January 15 Pay cash on accounts payable, $17,400. January 21 Provide services to customers for cash, $50,000. January 22 Receive cash on accounts receivable, $17,500. January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29. The dividend is payable es on February 15. (Hint: Grand Finale Fireworks had 19,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $24 per share. January 31 Pay cash for salaries during January, $42,900 The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $7,100. b. Supplies at the end of January total $6,000. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,900. d. Accrued income taxes at the end of January are $2,000. 11 Jan 31 Utilities Expense 7,100 Accounts Payable 7,100 Salaries Expense 12 Jan 31 8,200 Supplies 8,200 Depreciation Expense Jan 31 1,725 Accumulated Depreciation 1,725 Jan 31 Income Tax Expense 2,000 Income Tax Payable 2,000 Service Revenue Jan 31 66,300 16 Jan 31 Salaries Expense 51,100 Supplies Expense 6,000 Depreciation Expense 1,725 Utilities Expense 7,100 Income Tax Expense 2,000 17 Jan 31 Dividends 7,960 General Ledger Requirement 13 714 15 Answer is not complete. General Ledger General Income Balance Sheet Analysis Trial Balance Requirement Journal Statement Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted wwwwww Grand Finale Fireworks Classified Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Cash Salaries Payable 83,200 0 Accounts Receivable 45,100 Deferred Revenue 6,000 Supplies Accounts Payable 11,000 Total Current Assets 134,300 Total Current Liabilities 11,000 Noncurrent Assets: Stockholders' Equity Land 0 Common Stock 21,100 Retained Earnings 34,315 Total Stockholders' Equity 55,415 Total Liabilities & Stockholders Equity Total Assets $ 134,300 $ 66,415 Answer is not complete. General Journal General Income Balance Sheet Requirement Trial Balance Ledger Analysis Statement 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 2.40 % , is the company more or less profitable than other companies in the same industry? The return on equity is: 2.3 % Is the company more or less profitable than other companies? More (b) How many shares of common stock are outstanding as of January 31, 2021? The number of common shares outstanding as of January 31, 2021 is 18,000 (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.) If eanings per share was $2.40 last year (i.e. an average of $0.20 per month), is eamings per share for January 2021 better or worse than last year's average? Eamings per share is: 0.16 Is earnings per share for January 2021 better or worse than last year's average? better Balance Sheet Analusis
