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I posted all of my journal entries for reference and I need confirmation if my income statement is in the right order/correct and if balance

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedI posted all of my journal entries for reference and I need confirmation if my income statement is in the right order/correct and if balance sheet also needs any corrections..I am having trouble on the last screenshot also!

On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 44,000 47,100 8,800 77,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings $ 10,300 15,900 13,000 93,000 44,700 Totals $176,900 $176,900 During January 2018, the following transactions occur: January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $17,900. January Purchase additional supplies on account, $6,200. 10 January 12Repurchase 1,000 shares of treasury stock for $20 per share. January 15Pay cash on accounts payable, $17,800. January 21Provide services to customers for cash, $50,400. January Receive cash on accounts receivable, $17,900. 22 January Declare a cash dividend of $0.20 per share to all shares outstanding on 29 January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 13,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January Reissue 600 shares of treasury stock for $22 per share. 30 January 31Pay cash for salaries during January, $43,300. The following information is available on January 31, 2018. a. Unpaid utilities for the month of January are $7,500. b. Supplies at the end of January total $6,400. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,300. d. Accrued income taxes at the end of January are $2,400. No Date Account Title Debit Credit 1 Jan 02 Cash 40,000 Common stock 2,000 Additional paid-in capital 38,000 2 Jan 09 Accounts receivable 17,900 Service revenue 17,900 3 Jan 10 6,200 Supplies Accounts payable 6,200 4 Jan 12 20,000 Treasury stock Cash 20,000 5 Jan 15 17,800 Accounts payable Cash 17,800 6 Jan 21 50,400 Cash Service revenue 50,400 7 Jan 22 Cash 17,900 Accounts receivable 17,900 7 Jan 22 Cash 17,900 Accounts receivable 17,900 8 Jan 29 Dividends 2,800 Dividends payable 2,800 9 Jan 30 Cash 13,200 12,000 Treasury stock Additional paid-in capital 1,200 10 Jan 31 Salaries expense 43,300 Cash 43,300 11 11 Jan 31 7,500 Utilities expense Utilities payable 7,500 12 Jan 31 8,600 Supplies expense Supplies 8,600 13 Jan 31 1,825 Depreciation expense Accumulated depreciation 1,825 14 Jan 31 2,400 Income tax expense Income tax payable 2,400 15 Jan 31 Service revenue 68,300 Retained earnings 68,300 16 Jan 31 63,625 Retained earnings Depreciation expense Supplies expense Salaries expense 1,825 8,600 43,300 Utilities expense 7,500 Income tax expense 2,400 17 Jan 31 Retained earnings 2,800 Dividends 2,800 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdo will then populate the balances in those accounts from the adjusted trial balance. Adjusted Grand Finale Fireworks Multiple-Step Income Statement For the Month ended January 31, 2018 68,300 Service revenue Total revenue 68,300 Salaries expense 43,300 7,500 Utilities expense 8,600 Supplies expense Depreciation expense 1,825 61,225 Total operating expenses Income before taxes 7,075 Income tax expense 2,400 4,675 Net income $ Requirement Trial Balance Journal Statement Balance Sheet Ledger Analysis Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted Grand Finale Fireworks Classified Balance Sheet January 31, 2018 Assets Liabilities Current Assets: Cash $ Current Liabilities: 84,400 Accounts payable 47,100 Dividends payable 6,400 Utilities payable Income tax payable 4,300 2,800 Accounts receivable Supplies 7,500 2,400 Total Current Assets 137,900 Total Current Liabilities 17,000 Stockholders' Equity Noncurrent Assets: Equipment Accumulated depreciation 77,000 Retained earnings 46,575 (12,125) 15,000 Common stock Additional paid-in capital Treasury stock 132,200 (8,000) Total Stockholders' Equity Total Liabilities & Stockholders' Equity 185,775 202,775 Total Assets $ 202,775 $ Requirement irial balance balance Sheet Journal Ledger Statement Analysis Enter your Return on Equity value to one decimal place and earnings per share value to 2 decimal places. Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The return on equity is: % Is the company more or less profitable than other companies? More (b) How many shares of common stock are outstanding as of January 31, 2018? The number of common shares outstanding as of January 31, 2018 is (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) If earnings per share was $3.60 last year (i.e., an average of $0.30 per month), is earnings per share for January 2018 better or worse than last year's average? Earnings per share is: Is earnings per share for January 2018 better or worse than last year's average? better Balance Sheet Analysis

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