FIRST

Make a separate income statement, retained earnings sheet, and balance sheet.

ALSO

1. Calculate the Acid Test ratio and discuss what it means for ECMI.
2. Calculate the Profit Margin and discuss what it means for ECMI.
3. Discuss any issues of concern about the inventory account and its impact on the financial statements of ECMI. What should Ella consider doing?

Retained Earnings

56,000

451 &130 E 0320 170,000 178,750 178,750 L. EUC EOT teatre asu ane 481,276 912321 499,258 54922 098.955 48,955 451 &130 E 0320 170,000 178,750 178,750 L. EUC EOT teatre asu ane 481,276 912321 499,258 54922 098.955 48,955