e di biance with accounts listed in alphabetical order for Pace Design at February 28, 2014 Use this information to prepar numbers below as the description for the corresponding closing entry. 1. Close all temporary credit balance accounts to the income summary account. 2. Close all temporary debit balance accounts to the income summary account 3. Close the income summary (not income) to capital 4. Close the income summary (net loss) to capital 5. Close withdrawals to capital Enter the dates in the format dd/mmm (ie. 15/Jan) General Account Explanation Date Det + Pie De Adjusted That Balance February 28, 2014 Debit Credit Accounts receivable 10,610 Accumulated depreciation, furniture 3,480 Capital 11,050 Cash 4,800 Commissions earned 8,400 Depreciation expense, furniture 1,530 Furniture 16,790 Interest eamed 3,830 Interest expense 3,910 Long-term notes payable 6,290 Sales 8,510 Withdrawals 3,920 Totals 41,560 41,560 + L + 1 Lage Language Chine May.com The following tinal statements are excel 50 10200 2014 Sales 518 00 579600 543 800 Cost of goods sold 237000 224,500 ST 100 251.000 Shortsments 73,600 5700 Gross profit from sales 5000 300.000 355,100 05.000 1000 287200 Accounts recent Operating expenses DOO 120 100 600 12.000 146 500 150.300 Merchandise inventory Operating income 62.000 5400 260,300 200 000 13.000 Prepaid expenses 10.300 200 Interest expense 2.750 2850 3,000 Notes receivable, due in 2017 7,500 7.000 9.000 Income before taxes 257.550 205,750 133,800 Property, plant and equipment, net 113.000 105.000 100 000 Income taxes 40.200 47400 44,000 Total assets 408.000 300.700 376 300 Net income 217,350 158350 99,900 times and Equy Accounts payable 28,900 25,000 1100 Salnes payable 4500 5.300 5.000 Income taxes payable 14.300 13,800 17050 Long term note payable secured by more on planet 87000 75000 80.000 Share capital 180.000 220.000 240 000 Retained earings 99 200 55600 21250 Toubles and equity 406,500 390,700 379 100 Compute the acid-test ratio below, and indicate whether the change from year to years favourable or unfavourable For your analyses, assume that other things have med constant Apply your analysis in very general terms. All values should be accurate to at least two decimal places 2014 Ratio 2013 Measure of Analysis (select one) (select one) Acid test ratio Question 2 (5 points) On October 2014 Segura Cameration purchased automabas andis fortalec:570.000 inshof Sonderd INI 10MM 94 A6 NHOS-11