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P oints Accounta Debit Cash Credit $44,300 Accounts Receivable 47,700 Supplies Equipment 9,100 80,000 Accumulated Depreciation Accounts Payable $ 10,600 16,200 16,000 Common Stock, $1 par value Additional Paid-in Capital Retained Earnings 96.000 42,300 Totals $181,100 $181,100 During January 2021, 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, $18,800. January 10 Purchase additional supplies on account, $6,500. January 12 Purchase 1,100 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $18 $18,100. January 21 Provide services to customers for cash, $50,700. January 22 Receive cash on accounts receivable, $18,200. January 29 Declare a cash dividend of $0.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 16,000 shares outstanding on January 1, 2021, and dividende are not paid on treasury stock.) January Resell 700 shares of treasury stock for $21 per share.. January 31 Pay cash for salaries during January, $43,600. The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $7,800. b. Supplies at the end of January total $6,700. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,600. d. Accrued income taxes at the end of January are $2,700. 22 m Next > nts Answer is complete but not entirely correct. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet 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 retum 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 in 2.70% + Is the company more or less profsable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2021? 11,000 The number of common shares outstanding as of January 31, 2021 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 $2.40 last year ( an average of $0.20 per month), is eamings per share for January 2021 better or worse than last year's average? 0.270 Eamings per share is: O Is eamings per share for January 2021 better or worse than last year's average? 1022 More better Next >