Hi, I have to create a revised trial balance, revised balance sheet 2017, revised income statement 2017, revised retained earnings 2017, revised cash flow 2017 and grab the quick ratios. I have my workbook filled out, but I want to make sure my formulas/calculations are correct.

PEYTON APPROVED FINANCIAL DATA Preliminary Financial Statements have already been prepared (2017 statements in the Final Project Workbook). Final adjusting entries have not yet been made. See table for possible adjustments that indicate what will be recorded at 12/31/17 (fiscal year end). Use the following to complete year-to-year documentation and notes for managing depreciation, inventory, and long-term debt. 1. A supplier shipped $3,000 of ingredients on 12/29/17. Peyton receives an invoice for $3,175 for the goods and freight of $175, all dated 12/29/17. Goods were shipped FOB supplier's warehouse. 2. At 12/31/17, Peyton has $200 worth of merchandise on consignment at Bruno's House of Bacon. 3. On 12/23/17, Peyton received a $1,000 deposit from Pet Globe for product to be shipped by Peyton in the second week of January 4. On 12/03/2017, a mixer with cost of $2,000, accumulated depreciation $1,200, was destroyed by a forklift. As of 12/23/17, insurance company has agreed to pay $700 in January, 2018, for accidental destruction. PEYTON APPROVED TRIAL BALANCE As of December 31, 2017 Adjusting entries Dr Cr ref ref Unadjusted trial balance Dr Cr 67,520.04 68,519.91 Adjusted trial balance Dr Cr 67,520.04 68,519.91 15,506.70 1,238.07 15,506.70 1.238.07 2,114.55 2,114.55 170.49 14,000.00 2,114.55 2,114.55 170.49 14,000.00 1,606.44 1,606.44 Cash Accounts Receivable Other Receivable - Insurance Baking Supplies Merchandise Inventory Consignment Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Baking Equipment Accumulated Depreciation Customer Deposit Accounts Payable Wages Payable Interest Payable Notes Payable Common Stock Beginning Retained earnings Dividends Bakery Sales Merchandise Sales Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Rent Expense Wages Expense Misc. Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense 20,262.11 3,383.28 211.46 5,000.00 20,000.00 50,144.84 20,262.11 3,383.28 211.46 5,000.00 20,000.00 50,144.84 105,000.00 105,000.00 327.322.55 1,205.64 327,322.55 1,205.64 105,834.29 859.77 24,549.19 10,670.72 3,000.46 2,045.77 1,363.84 677.86 1,091.08 1,549.74 818.31 105,834.29 859.77 24,549.19 10,670.72 3,000.46 2,045.77 1,363.84 677.86 1,091.08 1,549.74 818.31 Peyton Approved Balance Sheet As of December 31, 2017 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Liabilities and Owners' Equity Current Liabilities: Accounts Payable 20,262.11 Wages Payable 3,383.28 Interest Payable 211.46 67,520.04 68.519.91 15,506.70 1,238.07 2,114.55 2,114.55 170.49 Total Current Assets 157,184.31 Total Current Liabilities 23.856.85 Long Term Liabilities: Notes Payable Total Long Term Liabilities: 5,000.00 Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets 5,000.00 14,000.00 -1,606.44 12,393.56 Total Liabilities: 28,856.85 Common Stock Retained Earnings 20,000.00 120,721.02 Total Equity 140,721.02 Total Assets: 169,577.87 Total Liabilities & Equity 169,577.87 Peyton Approved Income Statement For Year Ended 12/31/2017 Peyton Approved Statement of Retained Earnings For Year Ended 12/31/2017 $ 327,322.55 1,205.64 Beginning Balance: plus Net Income $ 50,144.84 175,576.18 328,528.19 Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit 105,834.29 859.77 less Dividends: Ending Balance 105,000.00 $120,721.02 106,694.06 221,834.13 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Total Operating Expenses: 24,549.19 10,670.72 3,000.46 2,045.77 1,363.84 677.86 1,091.08 1,549.74 818,31 490.98 46,257.95 Net Income 175,576.18 Peyton Approved Balance Sheet As of December 31, 2015 Peyton Approved Balance Sheet As of December 31, 2016 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Liabilities and Owners' Equity Current Liabilities: Accounts Payable 15088.84 Wages Payable 1118.83 Interest Payable 121.53 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Liabilities and Owners' Equity Current Liabilities: Accounts Payable 16.070.00 Wages Payable 1 532 80 Interest Payable 166.50 31507 56 35118.97 8042.23 580.27 1215.32 810.21 40.51 43,165.39 42,633.00 7,319.88 794.97 1,655.0D 1.110.00 55.50 Total Current Assets 77,315.09 Total Current Liabilities 16,327.20 Tolal Current Assets 96,742.72 Total Current Liabilities 18,669.30 Long Term Liabilities: Nates Payable 10,000.00 Total Long Term Liabilities: Long Term Liabilities: Notes Payable Total Long Term Liabilities: 15.000.00 10,000.00 Long Term/Fixed Assets: Baking Equipment Accumulated Deprec Net Fixed assets 15,000.00 Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets 8000 -677.79 B,ODD OD -928.56 5.322.21 Total Liabilities: 26,327.20 7,071.42 Total Liabilities: 33,669.30 Common Stock Retained Eamings 20,000.00 36,310.10 Common Stock Retained Earnings 20.000.00 50 144 84 Total Equity 58,310.10 Total Equity 70,144.84 Total Assets: 82,637.30 Total Liabilities & Equity 82,637.30 Total Assets 103.814.14 Total Liabilities & Equity 103,814.14 Peyton Approved Income Statement For Year Ended 12/31/2016 2017 2016 214,756.48 Current Ratio (Working Capital 215,027.24 Quick Ratio Rubery Sales Merchandise Sales Total Revenues Ciclox Sulla Cost of Goods Sold - Merchandise Total Cost of Goods Sold Grus Profit 73,159.59 $19.01 AIR Turnover 73,709.23 141,818 01 Inventory Turnover Gross margin Operating Expenses Retum on Sales Retum on Equity Return on Assets Rent Lxpense Wages Excise Mis Supplies Business License Expense Mix. Espense Depreciation Lxpense Insurance Expense Atamilisit falHTHI Interest Lxpense Telephone Expense Telling ISHS: 15,094.23 6.821.76 18.11 1.307.85 871.1 13.30 607.52 740.74 52.14 312. 313.88 29,6172.56 Net Income 112,745.45