FINAL EVALUATION GRANITE BAY JET SKII 13. What is the Total Liabilities and Stockholders' Equity? S 926860.90 14. To the nearest hundredth, what is the current ratio? 10.97 15. The April 1 balance of the Merchandise Inventory account was $156,850.00. To the nearest hundredth, what is the inventory turnover of the business? 16. To the nearest hundredth, compared to the June 2 balance of the Merchandise Inventory account, the Merchandise Inventory account balance has decreased by what percent? 1 17. What is the total of Total Plant and Equipment? s 13634) 18. What is the dollar amount of working capital? $ 19. To the nearest hundredth, what is the debt ratio? Do not enter the percent % sign. Print Trial Balance Ledger Card 115 Merchandise Inventory Show Ledger Card Date Explanation Debit Credit Balance Debit 3,564.00 46,180.00 Date Explanation June 2 Beginning Balance June 4 G4011 June 5 28600 S2717 June 6 G4013 June 6 24500 K4461 June 6 11780 64014 June 7 G4015 June 14 24500 K4461 DM601 June 14 10300 64016 June 16 G4017 June 18 11850 G4018 June 20 G4020 June 21 26950 M3093 June 22 G1402 June 23 22400 C5217 June 24 24500 K5050 June 25 G4022 June 26 11560 G4023 June 28 28600 S3488 June 28 G4025 June 30 11560 G4023 CM601 Credit Balance 203,971.18 7,500.00 196,471.18 200,035.18 210.70 199,824.48 246,004.48 151.90 245,852.58 11,200.00 234, 652.58 6,880.00 227,772.58 9,520.00 218,252.58 1,188.00 217,064.58 15,741.00 201, 323.58 215.00 201, 108.58 201,743.58 17,720.00 184,023.58 184,552.78 186, 659.78 6,740.00 179, 919.78 245.00 179, 674.78 187,594.78 10,890.00 176, 704.78 176, 734.18 635.00 529.20 2,107.00 7,920.00 29.40 Algorithmic Granite Bay Jet Ski II Income Statement For the Quarter Ended December 31, 2021 Revenues: Watercraft and Accessory Sales Less: Sales Returns and Allowances $ 304,914.95 2,192.80 Net Sales $ 302, 722.15 Cost of Goods Sold: Cost of Goods Sold Transportation-In $ 222,468.20 624.00 Total Cost of Goods Sold 223,092.20 Gross Profit From Sales 79, 629.95 Fees Earned: Service Fees Earned Storage Fees Earned 9,716.75 10,450.00 Total Fees Earned 20,166.75 Total Gross Profit From Sales and Fees Earned $ 99,796.70 Operating Expenses: Selling Expenses: Salaries and Wages Expense Store and Shop Supplies Expense Truck and Equipment Operating Expense Advertising Expense Delivery Expense Credit Card Expense pols Expense Depreciation Expense, Store & Shop Equipment Depreciation Expense, Shop Equipment Depreciation Expense, Trucks 15, 652.81 1,037.92 1,163.70 2,854.80 906.35 1,676.41 41.05 2,330.00 1,640.00 576.00 Total Selling Expense $ 27,879.04 $ General and Administrative Expenses: Rent Expense Insurance Expense Bad Debt Expense Property Tax Expense Utilities Expense Telephone Expense Bank Service Charges License Expense Professional Services Expense Cash Short and Over 15,190.00 2,347.00 733.50 749.00 869.82 410.00 138.67 928.00 905.84 22.05 Discounts Lost Miscellaneous Expense 232.00 76.92 Total General and Administrative Expenses $ 22, 602.80 Total Operating Expenses $ 50, 481.84 Income From Operations $ 49,314.86 Other Revenues and Expenses: Interest Earned Gain on Sale of Assets Miscellaneous Revenue $ 306.03 210.00 121.85 Total Other Revenues : $ 637.88 $ Income Taxes Expense Interest Expense Loss on Sale/Disposal of Assets 5,755.00 1,183.97 195.00 Total Other Expenses: $ 7,133.97 Net Other Expenses 6,496.09 Net Income $ 42,818.77 Algorithmic Granite Bay Jet Ski II Balance Sheet June 30, 2021 ASSETS Current Assets: Cash Petty Cash Accounts Receivable $ 30, 181.40 Allowance for Doubtful Accounts 2,190.50 $ 71,062.68 100.00 Net Realizable Value of Accounts Receivable Notes Receivable Storage Fees Receivable Interest Receivable Merchandise Inventory Prepaid Insurance Prepaid Property Tax Prepaid Advertising Store and Shop Supplies 27,990.90 10,000.00 0.00 20.00 176, 734.18 3,780.00 0.00 713.70 2,118.00 Total Current Assets $ 292,519.46 Pr Plant and Equipment Store Equipment and Fixtures Accumulated Depreciation $ 71,577.00 14,862.00 Book Value $ 56,715.00 Shop Equipment Accumulated Depreciation 35, 183.00 7,399.00 Book Value 27,784.00 Trucks Accumulated Depreciation 56,258.00 4,416.00 Book Value $ 51,842.00 Total Plant and Equipment 136, 341.00 Total Assets $ 428, 860.46 LIABILITIES Current Liabilities Accounts Payable Notes Payable $ 16,873.12 0.00 Printing Problems Sales Tax Payable Dividends Payable Salaries and Wages Payable Estimated Property Tax Payable Income Taxes Payable Interest Payable Unearned Storage Fees 1,818.30 0.00 96.05 0.00 2,520.00 150.00 5,200.00 Total Current Liabilities $ 26, 657.47 Long-term Notes Payable 10,000.00 Total Liabilities $ 36, 657.47 STOCKHOLDERS' EQUITY LIABILITIES Common Stock Retained Earnings $ 225,000.00 167,202.99 Total Stockholder's Equity 392,202.99 Total Liabilities and Stockholders' Equity $ 428, 860.46 LIABILITIES Printing Pre