Supply the missing dollar amounts for the 2020 statement of earnings of Ultimate Style Company for each of the following Independent cases Case CASE E 454 Case A Case Case $ 1.260 $ 1,060 $ 770 20433533 134 560 120 670 326 100 240 114 242 BB Sales revenue Selling expense Cost of sales Income tax expenso Gross proto Earnings before income tax Administrative expense Netewings 590 130 304 490 49 620 316 190 170 90 Peter's Curling in operates several curling centres (for games and equipment sates). The following transactions occurred in October of the current year a. Peter's collected $13,000 from customers for games played in October (example). b. Peter's sold $7,000 in curling equipment inventory, received $3,000 in cash and the rest on account cost of sales is $4,200, c. Peter's received $2,500 from customers on account who purchased merchandise in September d. The curling league gave Peter's a deposit of $2,600 for the upcoming fall season e. Peter's paid $1.900 for the September electricity bill and received the October bill for $2,200 to be paid in November Peter's paid $4,700 to employees for work in October 9. Peter's purchased $1.800 in insurance for coverage from October 1 to December 31 h. Peter's paid $1,400 to plumbers for repairing a broken pipe in the washrooms Required: Prepare a statement of earnings for Peter's Curling Inc. for the month of October 2020. Use an income tax rate of 40 percent. PETER'S CURLING INC Statement of Earnings For the Month of October 2020 Operating expenses Esmings before income taxes The following data are from annual reports of Justin's Jewellery Company 2020 2019 2018 Total assets $ 66,000 $50,000 $46,000 Total liabilities 15,000 13,000 8,000 Total shareholders' equity 51,000 43,000 38,000 Sales 330,000 120,000 100,000 Net earning 5,600 4,400 28,000 Required: Compute Justin's total asset turnoyer ratio and its return on assets for 2019 and 2020 (Enter your answers in numbers and not in percentages. Round Asset turnover to 1 decimal place and "Return on assets to 3 decimal places.) 2030 Assemover Return Supply the missing dollar amounts for the 2020 statement of earnings of Ultimate Style Company for each of the following Independent cases: Case D Case E Case A $ 1.260 Case B Case C $ 1,060 $ 770 204 134 560 120 74 454 304 490 590 130 Sales revenue Selling expense Cost of sales Income tax expense Gross profit Earnings before income tax Administrative expense Net earnings 48 620 670 198 326 240 242 316 190 114 170 98 68 Peter's Curling Inc. operates several curling centres (for games and equipment sales). The following transactions occurred in October of the current year: a. Peter's collected $13,000 from customers for games played in October (example). b. Peter's sold $7.000 in curling equipment inventory: received $3,000 in cash and the rest on account; cost of sales is $4,200. c. Peter's received $2,500 from customers on account who purchased merchandise in September. d. The curling league gave Peter's a deposit of $2,600 for the upcoming fall season. e. Peter's paid $1.900 for the September electricity bill and received the October bill for $2,200 to be paid in November. Peter's paid $4,700 to employees for work in October 9. Peter's purchased $1,800 in insurance for coverage from October 1 to December 31. n. Peter's paid $1.400 to plumbers for repairing a broken pipe in the washrooms. Required: Prepare a statement of earnings for Peter's Curling Inc. for the month of October 2020. Use an income tax rate of 40 percent PETER'S CURLING INC. Statement of Earnings For the Month of October 2020 Operating expenses: 0 Earnings before income taxes 0 The following data are from annual reports of Justin's Jewellery Company Total assets Total liabilities Total shareholders' equity Sales Net earnings 2020 2019 2018 $ 66,000 $ 56, 000 $ 46,000 15,000 13,000 8,808 51,000 43,000 38,000 130,000 120,000 105,000 4,400 28,000 5,600 Required: Compute Justin's total asset turnover ratio and its return on assets for 2019 and 2020. (Enter your answers in numbers and not in percentages. Round "Asset turnover" to 1 decimal place and "Return on assets" to 3 decimal places.) 2020 2019 Asset turnover Return on assets
