Juan Real Estate Company $($organized as a corporation on April $1,2013)$ has completed the accounting cycle for the year ended March $31,2024.$ Juan has also completed a correct trial balance as follows:

JUAN REAL ESTATE COMPANY

Adjusted Trial Balance

At March $31,2024$

Account Titles Debit Credit

Cash $ $62,000$

Accounts receivable $49,300$

Office supplies inventory $750$

Automobiles $($company cars$)39,000$

Accumulated depreciation, automobiles $ $14,500$

Office equipment $3,900$

Accumulated depreciation, office equipment $1,450$

Accounts payable $22,500$

Salaries and commissions payable $1,950$

Note payable, long term $39,000$

Contributed capital $(30,000$ shares$)44,000$

Retained earnings $($on April $1,2023)8,700$

Dividends declared $8,900$

Sales commissions $81,500$

Management fees $17,500$

Operating expenses $($detail omitted to conserve your time$)57,000$

Depreciation expense $($including $$950$ on office equipment$)7,300$

Interest expense $2,950$

Totals $ $231,100$ $ $231,100$

Assuming a $30$ percent tax rate.

Required:

$1.$ Prepare a statement of earnings for the fiscal year ended March $31,2024.($Round "Earnings per share" to $2$ decimal places.$)$

$2.$ Prepare the journal entry to record income taxes for the year $($not yet paid$).($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

$3.$ Prepare a classified statement of financial position at March $31,2024.$

$4.$ Compute the net profit margin ratio and the return on equity. $($Round the final answers to the nearest whole number$)$

$5.$ Prepare the closing entries at March $31,2024.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$