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Using the below account balances for Charlotte Corp., and in this order:
A - Prepare an Income Statement for the Year Ended Dec. 31, 2021 in proper format using Excel.
B - Calculate the ending retained earnings balance as of 12/31/21 (beginning retained earnings is given).
C - Prepare the Balance Sheet as of December 31, 2021 AND 2020 in good format using Excel.
2021 2020
Accounts Payable 81,000 78,000
Accounts Receivable, net of uncollectible accounts 87,000 92,000
Additional Paid-in Capital 15,000 15,000
Automobiles 29,000 22,000
Building Improvements 62,000 48,000
Buildings 405,000 275,000
Cash 126,000 110,000
COGS 482,000
Common Stock $1 par, 400,000 shs authorized, 30,000 shs issued, 25,000 shs outstanding
30,000 30,000
Computer Equipment 18,000 17,000
Conferences & Travel Expense 9,000
Depreciation & Amortization Expense 12,000
Dividends Paid 10,000
General & Administrative Expense 150,000
Goodwill 115,000 115,000
Income Tax Expense 32,000
Insurance Expense 15,000
Interest Expense 12,000
Interest Income 14,000
Interest Payable 18,000 14,000
Land 120,000 120,000
Accumulated Amortization -30,000 -28,000
Accumulated Depreciation -118,000 -108,000
Long-Term Bonds Payable 190,000 119,000
Long-Term Note Payable 210,000 178,000
Merchandise Inventory 20,000 18,000
Net Sales 957,000
Patents 45,000 45,000
Preferred Stock 22,000 22,000
Prepaid Insurance 15,000 12,000
Production Equipment 43,000 39,000
Research & Development Expense 13,000
Retained Earnings ? (need to calculate) 190,000
Selling Expense 21,000
Short-Term Marketable Securities 18,000 15,000
Short-term Note Payable 142,000 156,000
Trademarks 16,000 16,000
Treasury Stock 5,000 shs -5,000 -5,000
Utilities Expense 18,000
Wages Expense 131,000
Wages Payable 12,000 11,000
Once the financial statements are prepared, calculate the following ratios for 12/31/21 (show your work):
D - Gross Margin Ratio
E - Current Ratio
F - Working Capital Ratio
G - Acid-Test Ratio
H - Asset Turnover
I - Inventory Turnover
J - # Days' Sales in Accounts Receivable
K - # of Days' Sales in Inventory
L - ROI
M - ROE
N - Earnings per Share
O - Debt Ratio
P - Debt/Equity Ratio
Q - Times Interest Earned
Once the finascial statements are prepared, calculate the following raties for 2/31/21 (ehew your neflat D. Citass Margin Itatio E - Current Ratio F - Warking Capital Ratis Ci-Acid-Test Ratio H - Asset Tureover I- Inventery Turnever J- Days' Sales in Accounts Reccivable X. - of Days' Sales in Inventory L. - ROI M=ROE N - Eamings per Share O - Debt Ratio P- Debt Lquity Ratio Q-Times Interest Earned A - Propare an laceme Statemeat fer the Year Eeded Dee. 31, 2021 in proper fermat ening Exeel. B - Calculate the ending retained earaings halance as of 1231/21 (beginaing retaled rarnings is glven). C - Prepare the Balance Sheet as of December 31, 2021 AND 2020 in reod format exing Encel. Once the fiastial statements are prepared, calculate the following ratios for 2/31/21 (thew yeur wef D-Ciross Margin Ratio B. - Cursent Ratio F - Working Capical Ratio G - Aeid-Test Ratio H - Aasit Turmever I - Inventery Tumover J- A Days" Sales in Acenuets Receivable K. + H of Days' Sales in lnventory L. - ROI M - ROE N - Eantings per Share O - Debt Ratio P- DebtFquity Ratio Q. Times Inicrest Earned Using the below account balances for Charlotte Corp., and in this order: A- Prepare an income Statement for the Year Ended Dec. 31, 2021 in proper format using Excel. B - Calculate the ending retained earnings balance as of 12/31/21 (beginning retained earnings is given C- Prepare the Balance Sheet as of December 31, 2021 AND 2020 in good format using Excel. Once the financial statements are prepared, calculate the following ratios for 12/31/21 (show your work): D- Gross Margin Ratio E-Current Ratio F-Working Capital Ratio G. Acid-Test Ratio H- Asset Turnover I- Inventory Turnover 1. # Days' Sales in Accounts Receivable K. # of Days' Sales in inventory L. ROI M-ROE N-Eamings per Share O- Debt Ratio P. Debt/Equity Ratio Q. Times interest Earned

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