I need help with the income statement, balance sheet, and analysis. I completed what I could please fill in the blank and correct!
Depreciation on the equipment for the month of January is calculated using the straight-line method. The company records an adjusting entry for $3,670 for estimated future uncollectible accounts. The company has accrued interest on notes recelvable for January. Unpaid salaries owed to employees at the end of January are $32,700. The company accrued income taxes at the end of January $9,100. Using the information from the requirements above, complete the 'Analysis' tab. (Round final answers to 1 dec Ansilyze fiow woll TNT Firoworks manages its issots: (a) Calculate the roturn on assets ratio for the month of January. If the average roturn on assots for the industry in January is 2%, is the company more or less profitable than other companies in the same industry? (b) Calculate the profit margin for the month of January. If the industry average profit margin is 5%, is the company more or less efficient at converting sales to profit than other companies in the same industry? The proth marpin is: The company is more efficient at corvarting sales to profit. (True or False) (c) Calculate the asset turnover ratio for the month of January. If the industry average asset turnover is 0.5 times per month, is the company more or less efficient at producing rovenues with its assets than other companies in the same industry? Choose the appropriate accounts to complete the companys balance shoet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. e. The company accrued income taxes at the end of January $9,100. Choose the appropriate accounts to complete the compary's income statement, The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. \begin{tabular}{|c|c|c|c|c|c|c|} \hline & & No & Date & General Journal & Debit & Crodit \\ \hline & 1 & 1 & January of & Equipment & 19,600 & \\ \hline \multirow{2}{*}{\begin{tabular}{l} 15 \\ Doints \end{tabular}} & & & & Cash & & 19,600 \\ \hline & & & & & & \\ \hline \multirow{2}{*}{8 cacoss } & 1 & 2. & January o4 & Accoums Payable & 9.600 & \\ \hline & & & & Cash & & 2.600 \\ \hline & 1 & 3 & Jaruary 08 & Invontory & 63,900 & \\ \hline & & & & Accounts Payable & & 83,900 \\ \hline & & & & & & \\ \hline \multirow{2}{*}{ } & & 4 & Jamuary 15 & Cash & 22,100 & \\ \hline & & & & Accounts Recelvabie & & 22,100 \\ \hline \multirow{14}{*}{hefe-ences0} & / & 5 & Sanuary 19 & Salaries Expense & 29.900 & \\ \hline & & & & Cash & & 29,000 \\ \hline & & 6 & January 2B & Ualities Expense & 16.600 & \\ \hline & & & & Cash & & 16,600 \\ \hline & & & & & & \\ \hline & 1 & 7 & January 30 & Accounts Receivasile & 221,000 & \\ \hline & & & & Sales Pievenue & & 221,000 \\ \hline & 1 & 8 & January 30 & Cont ot Goods Sold & 115,500 & \\ \hline & 5 & & & inventory & & 115,500 \\ \hline & / & 9 & Janvary 31 & Deprecuabon Expense & 250 & \\ \hline & & & & Accoumulaled Degreciation & & 250 \\ \hline & 7 & 10 & January 91 & Bas Dobt Expense & 3.070 & \\ \hline & & & & Alowance for Uncolecsble Accounts & & 3,670 \\ \hline & & 11 & sartsary 31 & Interest Recevabie & 55 & \\ \hline \end{tabular} On January 1,2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024 , the following transactions occur: Jamuary 1 purehase equipment for $19,600. The company estimstes a residual value of $1,600 and a six-year aervice 11 ife. January i Pay eanh on necounts payabie, $9,600. January i purchane additional inventory on accoust, $39,900. Janiary is Receive cash on accountio receivable, 522,100 . January 19 pay cash for balarien, $29,900. January 28 pay cash for January utilities, $16,600. 5115,500 . The following information is avaliabie on January 31,2024. a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,670 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. d. Unpaid salaries owed to employees at the end of January are $32,700. e. The company accrued income taxes at the end of January $9,100. Using the information from the requirements above, complete the 'Analysis' tab. (Round final answers to t decimal piace.) (a) Calculale the return on astels rabo for the month of January if the average retum on assets for the industry in January is 2%, is the company more or less peoftable than other comparies in the same industry
