d) Calculate the current ratio, cash ratio, and working capital for Buckeye Corporation at the given date. e) The Buckeye Corporation is selling $3000 of its unused machinery and equipment to improve their cash position. How will this affect the current ratio, cash ratio, and stockholders equity?

Problem 1) Given the following ledger sheet for Buckeye Chemicals, prepare an income statement for the month of July. Date LEDGER Cash Debit Date $9,500 July Credit $10,000 July 7500 13000 500 Analysis 1 Balance Forward 3 Sales 3 Sales 3 Sales 7 Sales 8 Sales 16 Dividend 19 Sales 20 Sales 21 Sales 28 Sales Total Balance Forward 500 6000 9250 8400 500 1000 12000 750 750 3000 $51,650 $7,700 Analysis 5 Raw material 10 Raw material 11 Salaries 18 Insurance 18 Office Supplies 19 Raw material 25 Raw material 26 Rent 30 Delivery Balance 250 3000 1000 5500 3200 7700 Total $51,650.00 For the purpose of this exercise, assume that the raw material costs incurred are equivalent to the cost of goods sold during the month b) Prepare a balance sheet for Buckeye Chemicals using the following information on a given date. Do not calculate Total Stockholder equity yet. You may use the table provided on the following page to organize your balance sheet. Cash Social Security Tax Accounts Payable Inventories Long Term Debt Machinery and Equipment (at present value) $600 $10,000 $5,000 $2,000 $26,300 Reserve for Expansion Accounts Receivable Reserve for Depreciation Debt Due in 1 Year Government Bonds Furniture and Fixtures (at present value) $2,000 $4,000 $400 $1,000 $2,000 $4,000 Organize your balance sheet in the following way: Current Assets, Fixed Assets, Current Liabilities, Future Liabilities and Stockholder Equity. Be sure to use good formatting by using labels and titles. c) What value must the Stockholder Equity be in order for the sheet to balance