Introduction [In this section include the purpose of the report. Describe the kind of information these financial statements provide to various aspects of the business.] Financial Statement Analysis [This section should center on your analysis of the financial performance of the company based on the statements you prepared. Illustrate the company's cash position, its net income as a percentage of sales, and its current liabilities to current assets position. Explain what this indicates about the company's current financial position and performance.] Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Suppli Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Common Stock Dividends Bakery Sales Inventory Valuation A Company Trial Balance 20xx Unadjusted trial balance Adjusting entries Adjusted trial balance Debit Credit Debit Credit Debit Credit 51,436.75 51.436.75 20,500.00 19,400.00 1,100.00 175.65 175.65 1,500.00 1,500.00 1,200.00 200.00 1,000.00 5,000.00 5,000.00 208.33 208.33 600.00 550.00 50.00 9,700.00 9,700.00 10,000.00 10,000.00 150,00 150.00 7,000.00 7,000.00 480.00 480.00 30,000.00 30,000.00 10,000.00 10,000.00 60,000.00 60,000.00 Trial Balance Adjusting Entries income Statement Statement of Stockh Clipboard Font Alignment Formattinglable Styles Number 034 X D E G C 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 150.00 7,000.00 480.00 30,000.00 10,000.00 10,000.00 60,000.00 221.00 60,000.00 221.00 19,400.00 A 5 Notes Payable Interest Payable Accounts Payable 3. Wages Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Supplies Expense Rent Expense Interest Expense Insurance Expense Depreciation Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense COGS 4,500.00 150.00 200.00 208.33 250.00 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 550.00 375.00 200.00 1,956.00 150.00 157.60 Total: 107,701.00 107,701.00 20,508.33 108,059.33 20,508.33 108,059.33 Inventory Valuation Trial Balance Adjusting Entries Income Statement Statement of Stockh... B D E F G Credit Debit 208.33 208.33 150.00 150.00 Date Accounts 31-Dec Depreciation Expense Accumulated Depreciation 31-Dec Interest Expense Interest Payable 31-Dec Insurance Expense Prepaid Insurance 31-Dec Baking Supplies Expense Baking Supplies 31-Dec Office Supplies Expense Office Supplies 200.00 200.00 19,400.00 19,400.00 550.00 550.00 20,508.33 20,508.33 B D 12 Operating Expenses: 13 Baking Supplies Expense 14 Rent Expense 15 Interest Expense 16 Insurance Expense 17 Depreciation Expense 18 Misc. Expense 19 Office Supplies Expense 20 Business License Expense 21 Advertising Expense 22 Wages Expense 23 Telephone Expense -4 5 6 7 19,400.00 4,500.00 150.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 3 Total Operating Expenses: 27,939.33 Net Income 32,124.07 F10 B. fx D B C D 1 A Company 2 Statement of Stockholder's Equity 3 For Qtr. Ending 12/31/20xx 4 Common Stock Retained Earnings Total 5 Beginning Balances, September 30 0 0 6 Issued Common Stock 30,000.00 30,000.00 7 Net Income 32,124.07 32,124.07 8 Dividends (10,000.00) (10,000.00) 9 Ending Balances, December 31: 30,000.00 22,124.07 52,124.07 0 1 2 3 4 5 6 7 3 D 1,500.00 1,000,00 64,962.40 Long Term Liabilities: Notes Payable Total Long Term Liabilities: 10,000.00 10,000.00 Total Liabilities: 17,630.00 2 Prepaid Rent 13 Prepaid Insurance 14 Total Current Assets 15 16 7 8 9 0 1 Non-Current Assets: 2 Baking Equipment 3 Accumulated Depreciation Baking Equipment (Net) 5 Total Assets: Shareholder's Equity Common Stock COGS 30,000.00 22124.07 5,000.00 (203.33) 4,791.67 Total Equity 52,124.07 69,754.07 Total Liabilities & Equity 69,754.07 7 3 2 2 3 A Company Closing Entries Qtr ending 12/31/20xx 4 5 Credit Debit 60,000.00 221.00 60,221.00 28,096.93 6 Date Accounts 7 31-Dec Bakery Sales 3 Merchandise Sales Retained Earnings 0 1 31-Dec Retained Earnings 2 Baking Supplies Expense 3 Rent Expense Wages Expense Office Supplies Expense Business License Expense Office Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense 157.60 19,400.00 4,500.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 Income Statement Stamente leheldatu habeat Baking Supplies Expense Rent Expense Wages Expense Office Supplies Expense Business License Expense Office Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense COGS 157.60 19,400.00 4,500.00 200.00 208.33 250.00 550.00 375.00 200.00 1,956.00 150.00 150.00 10,000.00 1-Dec Retained Earnings Dividends 10,000.00 D E A Company Post-Closing Trial Balance Qtr. Ending 12/31/20xx Account Cash Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Accounts Payable Wages Payable Interest Payable Notes Payable Common Stock Retained Earnings Unadjusted Trial Balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.33 50.00 9,700.00 1,000.00 7,000.00 5,000.00 480.00 150.00 10,000.00 30,000.00 22,124.07 Total 69,962.40 69,962.40 Clocin Entries cho Post-Closing Trial Bal