Financial Ratios

1. Prepare the following financial ratios. If required, round your answers to two decimal places. Assume 365 days per year. For return on owner's equity, enter as a percent but do not include percent sign.

Paulson's Pet Store completed the work sheet below for the year ended December 31, 20--. Owner's equity as of January 1, 20--, was $22,332 and the Accounts Receivable balance on January 1, 20--, was $3,816. The current portion of Mortgage Payable is $542. All sales are credit sales.

Ratios Prepare the following financial ratios. If required, round your answers to two decimal places. Assume 365 days per year. For retun on owner's equity, enter as a percent but do not include percent sign. n's Pet Store completed the work sheet below for the year ended December 31, 20-. Owner's equity as or January 1, 20-, was?22,332 and the Accounts Receivable balance on January 1, 20-, was $3,816The current of Mortgage Payable is $542. All sales are credit sales Paulson's Pet Store Work Sheet For Year Ended December 31, 20 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accum. Depr.-Equipment Accounts Payable Wages Payable Sales Tax Payable Mortgage Payable B. Paul 15,886 2,366 14,988 836 580 5,326 15,886 2,366 16,470 627 435 5,326 15,886 2,366 16,470 627 435 5,326 (b) 16,470 (a) 14,988 (c) 209 (d) 145 (e) 440 880 4,920 286 880 3,958 880 4,920 286 880 3,958 284 440 4,920 (r) 286 880 3,958