I need help with D! please fill in the blanks. I cannot write words. only numbers!
Affordable Lawn Care, Inc., provides lawn-mowing services to both commercial and residential customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared annually at December 31. An adjusted trial balance dated December 31, current year, follows. AFFORDABLE LAWN CARE, INC. Adjusted Trial Balance December 31, Current Year Credits Debits $ 117,050 9,600 16,000 6,000 2,150 300,000 $ 240,000 40,000 Cash Accounts receivable Unexpired insurance Prepaid rent Supplies Trucks Accumulated depreciation: trucks Mowing equipment Accumulated depreciation: mowing equipment Accounts payable Notes payable Salaries payable Interest payable Income taxes payable Unearned mowing revenue Capital stock Retained earnings Dividends Mowing revenue earned Insurance expense 24,000 3,000 100,000 1.800 2,100 1,800 40,000 60.000 10,000 340,000 4,500 340,000 Mowing revenue earned Insurance expense office rent expense Supplies expense Salary expense Depreciation expense: trucks Depreciation expense: mowing equipment Repair and maintenance expense Fuel expense Miscellaneous expense Interest expense Income taxes expense 4,800 72,000 10,400 120,000 60,000 8,000 6,000 3,000 10,000 6,000 12,000 $ 813,000 $ 813,000 Required: a-1. Prepare an income statement for the year ended December 31. Current Year. a-2. Prepare a statement of retained earnings for the year ended December 31, Current Year. a-3. Prepare the company's balance sheet dated December 31, Current Year. b. Prepare the necessary year-end closing entries. c. Prepare an after-closing trial balance. d. Using the financial statements prepared in part a briefly evaluate the company's profitability and liquidity. Using the financial statements prepared in part a, briefly evaluate the company's profitability and liquidity. (Round your percentage answers to 1 decima .1234 should be entered as 12.3)) For the year ended December 31. Current Year, the company generated net income of $ 27,800 on sales Thus, net income as a percentage of sales was approximately 82 %. Moreover, the profit represented a return on average stockholders' equity of approximately %, which is a fairly strong return on investment. The company's balance sheet at December 31. Current Year, reports cash and accounts receivable totaling $ 126 650 It also reports various payables (liabilities) totaling 109,000 Depending on when the $ 100,000 note payable reported in the balance sheet is due, the company may be extremely liquid. If this obligation is not due in the near future, has the company $ 126.650 in cash and accounts receivable to cover obligations of only Moreover, $ 1.800 of the of obligations, the Unearned Mowing Revenue amount will not require a cash outlay. Even if this note is due shortly, the company still appears to be liquid $
