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I need an tabular analysis, income statement and balance sheet of the data given in the photo. commons 1. Comprehensive Problem - Part 4 Jan
I need an tabular analysis, income statement and balance sheet of the data given in the photo.
commons 1. Comprehensive Problem - Part 4 Jan for cash sold was $65.000, 25.0 7s bem continuation of Problem #13 in Chapter 4 $602,900; Accounts receivable $10,000; Merchandise inventory S3 The nccount balances An December 31, 2018 are follow $200,000; Common shares $140,000, and Retnined carnings S Prepaid rent $3,150; Equipment $55.000; Accumulated $13,750; Land $40,000: Accounts payable $0; Long-term nie een The following transnctions and events occurred in 2019, 1 Issued $50,000 of 5% preferred shares for cush 1 Sold the equipment at its written-down value (book value Jan 1 Acquired new equipment for $150,000 cash. The new equipment has an estimated useful life of 15 years and Jan. expected residual value. inventory for $80,000 cash from ordinary Apr 1 Purchased 1 Paid rent in advance of $3,200 on a six-month office lease suppliers. July 1 Made cash sales of $150,000. The related cost of goods Aug Sept. 1Purchased additional land for cash of $20,000. Oct. 31 All remaining accounts receivable were collected. Dec. 30 Various operating expenses totalled $40,000. All were paid in cash except for $5,000 for utilities, which will be paid in Dec. 31 Paid the annual dividend on the preferred shares, and a su January. cent dividend per common share. Dec. 31 Paid the interest on the bank loan. Dec. 31 Recorded depreciation for the new equipment. Dec. 31 Recorded rent expense for 2019, Dec. 31 Paid cash of $3,800 for income taxes. Required Using the transactions-based approach (tabular analysis), record (a the above transactions and events for 2019. Determine the end- ing balances for all accounts that are included in the tabular analysis. (b) Prepare an income statement for the year 2019. (C) Prepare a statement of changes in retained earnings for the (d) Prepare a balance sheet as at December 31, 2019. year 2019. tupa bns als Discussion Questions Using the financial statements you prepared following: (i) Return on assets ratio (ii) Return on equity ratio (iii) Gross profit percentage (iv) Return on sales ratio (v) Net income to sales ratio (vi) Earnings per share (vii) Dividend payout ratio (viii) Receivables turnover ratio (ix) Inventory turnover ratio (x) Asset turnover ratio (xi) Current ratio (xii) Quick ratio xiii) Debt to equity ratio xiv) Debt to assets ratio 3 ith the bank to
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