Mer Durit he Danvers Lamp Company (DLC), owned by Jean Danvers, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. (Click the icon to view the additional information.) The trial balance for DLC as of September 30, 2018 follows: Click the icon to view the trial balance.) Read Purchases Cost of Goods Sold Desk lamps: Inventory on Hand Total Unit Unit Total Unit Total Cost Quantity Cost Cost Date Quantity Cost Sep. 30 Oct 1 2,500 $ Quantity 1,800 $ Cost Cost 10 $ 18,000 5 $ 12,500 1,800 $ 2,500 $ 1,300 $ 2,500 $ 15 500 $ 10$ 5,000 10 $ 18,000 5 $ 12,500 10 $ 13,000 5 $ 12.500 5$ 11,500 Nov. 1 1,300 $ 2,300 $ 10 $ 13,000 5$ 1,000 200 $ 5 2,500 $ 8 $ 20,000 2,300 $ 2,500 $ 15 1,500 $ 5 $ 7,500 800 S 5 s 11,500 8 $ 20,000 $ 4,000 8 $ 20,000 8 $ 12,000 5 Dec. 27 2,500 $ 5$ 800$ 1,000 $ 4,000 1,500 $ 8$ 8,000 31 25$ 8 $ 200 Totals 5,000 1,475 $ $ 32,500 8 $ 11,800 5,325 $ 38,700 Choose from any list of enter any number in the input fields and then click Check Answer 1,475 $ 11,800 46 per remaining Merci During The Danvers Lamp Company (DLC), owned by Jean Danvers, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. (Click the icon to view the additional information.) The trial balance for DLC as of September 30, 2018 follows: Click the icon to view the trial balance.) Read th Cost of Goods Sold Inventory on Hand Purchases Table lamps: Unit Unit Unit Total Total Total Cost Cost Cost Cost Cost Cost Date Quantity Quantity Quantity 3,400 $ 3,400 $ Sep. 30 9,500 $ Oct. 1 19 $ 64,600 19 $ 64,600 24 $ 228,000 24 $ 228,000 9,500 $ 12 3,400 $ 19 $ 64,600 7,900 $ 24 | $ 189,600 1,600 $ 4,500 $ 24$ 38,400 24 $ 108,000 28 3,400 $ 24 $ 81,600 Nov. 5 12,000 $ 25 $ 300,000 3,400 $ 24 $ 81,600 25 $ 300,000 12,000 $ 18 1,900 $ 24 $ 45,600 24 $ 36,000 1,500 $ 12,000 $ Dec. 27 1,500 $ 25 $ 300,000 25 $ 147,500 5,900 $ 6,100 $ 31 24$ 36,000 25 $ 152,500 25 $ 200 $ 445,300 8 $ 5,892 $ 25 $ 147,300 Totals 21,500 $ 528,000 19,008 5,892 $147.300 Choose from any list or enter any number in the input fields and then click Check Answer. 46 remaining parts Clear All Re ext, prepare complete the inventory record for floor lamps. Enter the transactions in chronological order, calculating new inven ecord, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Re amps, 1,475; table lamps, 5,892; and floor lamps, 11,900 (Enter the oldest inventory layers first.) Floor lamps: Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Total Unit Cost Date Quantity Cost Cost Quantity Cost Quantity 2,200 $ Sep. 30 Oct. 1 4,500 $ 20 $ 90,000 2,200 $ Cost Cost 32 $ 70,400 32 $ 70,400 20 $ 90,000 32 $ 28,800 20 $ 90,000 4,500 $ 28 1,300 $ 32 $ 41,600 900 $ Nov.5 9,000 $ 21 $ 189,000 4,500 $ 900 $ 4,500 $ 9,000 $ 32 $ 28,800 20 $ 90,000 21 $ 189,000 20 $ 58,000 21 $ 189,000 18 900$ 2,900 $ 32 $ 28,800 20 $ 32.000 1,600 $ 9,000 $ Totals 13,500 $ 279.000 3,800 $ 102,400 11,900 $ 247.000 Requirement 3. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line Oct. 28: Sold lamps on account to Pike Home Stores, terms 1/10, 1/30:4,500 table lamps at $40 each and 1,300 floor lamps at $68 each. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and explanation Debit Credit Oct 28 Accounts Receivable-Pike Sales Revenue Sales on account Choose from any list or enter any number in the input fields and then click Check Answer ct 1 of 1 (1 complete) - wers, is a whole i More Info sists of the fo Entory.) d the followi or full amount o ation Oct. 1 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 2,500 desk lamps at $5 each 9,500 table lamps at $24 each 4,500 floor lamps at $20 each 12 Sold lamps on account to Moonbeam Home Furnishings, terms 3/10, 1/30: 5,000 table lamps at $40 each 15 Sold lamps on account to Kennesaw Office Supply, terms 1/10, n/30: 500 desk lamps at $17 each 20 Received a check from Moonbeam Home Furnishings for full amount owed on Oct. 12 sale. 23 Received a check from Kennesaw Office Supply for full amount owed on Oct. 15 sale. 28 Sold lamps on account to Pike Home Stores, terms 1/10, 1/30: 4,500 table lamps at $40 each 1,300 floor lamps at $68 each 30 Paid amount due to Appalachian Lights from Oct. 1 purphase. 31 Paid salaries, $45,000 (60% selling, 40% administrative). 31 Paid utilities, $2,900 (60% selling, 40% administrative). Nov. 1 Sold lamps on account to Kennesaw Office Supply, terms 2/10,n/30: 1,500 desk lamps at $17 each 5 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 2,500 desk lamps at $8 each 12,000 table lamps at $25 each 9,000 floor lamps at $21 each 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale 1/10, 1/30:4 of the transactic tion elds and then Print Done MacBook Pro st 1 of 1 (1 complete) ers, is a whole More Info sists of the entory.) d the follow game or full amount o tion 2,500 desk lamps at $8 each 12,000 table lamps at $25 each 9,000 floor lamps at $21 each 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. 8 Received a check from Kennesaw Office Supply for full amount owed on Nov. 1 sale. 10 Purchased and paid for supplies: $420 for the office: $580 for the warehouse 15 Sold lamps on account to Jackson Office Supply, n/30: 1,500 desk lamps at $17 each 18 Sold lamps on account to Capital Discount Stores, terms 2/10, n/30: 1,900 table lamps at $40 each 2,500 floor lamps at $68 each 28 Received a check from Capital Discount Stores for full amount owed on Nov. 18 sale. 30 Paid salaries, $45,000 (60% selling, 40% administrativi). 30 Paid utilities, $2.480 (60% selling, 40% administrative). Dec. 5 Paid amount due to Appalachian Lights from Nov. 5 purchase. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. 15 Danvers withdrew $25,000 from the business. 27 Sold lamps on account to Moonbeam Home Furnishings, terms 2/10, 1/30: 1,800 desk lamps at $17 each 7,600 table lamps at $40 each 31 Pald salaries, $45,000 (60% selling, 40% administrative). 31 Paid utilities, $3,100 (60% selling, 40% administrative). 1/10, 1/30:4 of the transactid tion elds and then Print Done MacBook Pro 1 of 1 (1 complete) olesale company that purchases lamps from the Merchandise Inventory as of September 30 consists of (Click the icon to view the Merchandise Inventory.) During the fourth quarter of 2018, DLC completed the f (Click the con to view the transactions). Read the requirements. tov - X Data Table Item Quantity Unit Cost Total Cost 1,800 $ 10 $ Desk Lamp Table Lamp 3,400 $ 19 18,000 64,600 70,400 Floor Lamp 2,200 $ 32 $ 4,500 tabl Total 153,000 ction. Do no Print Done en click Check Answer. Clear All meworkid=574711975&questionid=1&flushed=false&cid=6170870¢erwin-yes ct 1 of 1 (1 complete) nvers, is a whole Data Table sists of the following bntory.) bd the following tran WS: Danvers Lamp Company Trial Balance September 30, 2018 Balance Credit for full amount o Account Debit $ mation 395,000 0 153,000 270 280 ms 1/10,n/30:4 Cash Accounts Receivable Merchandise Inventory Office Supplies Warehouse Supplies Land Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation Accounts Payable Danvers, Capital Danvers, Withdrawals Sales Revenue 12.000 860,000 130,000 360,000 of the transactio mation $ 270,000 0 385,100 0 2,649,450 Cost of Goods Sold 1,046,000 06.00 Cala Gwen Calen fields and then Print Done Done MacBook Pro 1 of 1 (1 complete) holes Data Table sists of the follo entory.) d the following 280 Warehouse Supplies 12,000 Land 860,000 130,000 punto 360,000 $ 270,000 0 385,100 0 2,649,450 Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation Accounts Payable Danvers, Capital Danvers, Withdrawals Sales Revenue Cost of Goods Sold Salaries Expense-Selling Utilities Expense-Selling Supplies Expense-Selling Depreciation Expense-Selling Salaries Expense Administrative Utilities Expense Administrative Supplies Expense Administrative Depreciation Expense-Administrative 1,046,000 195,000 37,000 n/30:4 ansactic 0 0 95,000 21,000 0 0 $ 3,304,550 $ Total 3,304,550 and then Print Done Done MacBook Pro x?homeworkld-574711975&questionid=1&flushed=false&cid=6170870¢erwinwyes pject 1 of 1 (1 complete) Danvers, is a wholesale company that purchases lamps from the -> follows: Merchandise Inventory as of September 30 consists of the follow (Click the icon to view the Merchandise Inventory.) During the fourth quarter of 2018, DLC completed the following (Click the icon to view the transactions). Read the requirements. pply for full amount owy * More Info planation w The company has three inventory items: desk lamps, table lamps, and floor lamps. DLC uses a perpetual inventory system, FIFO method. DLC owns land with a building, which is separated into two parts: office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse foxtures. The company uses one accumulated depreciation account for all the depreciable assets. terms 1/10, 1/30: 4,5 -tion of the transaction planation Print Done out fields and then click Check Answer. Clear All MacBook Pro workid=b/4 ct 1 of 1 (1 complete) ers, is a wholes Requirements sists of the fo antory) d the followi Tor full amount ation 1. Open general ledger T-accounts and enter opening balances as of September 30, 2018 2. Open Inventory records for the three inventory items and enter opening balances as of September 30, 2018. Complete the inventory records using the following transactions: Oct. 1, 12, 15, 28; Nov. 1, 5, 15, 18, and Dec. 27. 3. Record the transactions in the general journal. 4. Post transactions to the general ledger 5. Prepare adjusting entries for the year ended December 31, 2018, and post to the ledger: a. Depreciation, $62,500 (60% selling. 40% administrative). b. Supplies on hand: office, $390; warehouse, $610. c. A physical inventory account resulted in the following counts: desk lamps, 1.475; table lamps, 5,892, and floor lamps, 11.900. Update the inventory records. 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in Inventory for each item in the following format: Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error 8. Prepare Danvers Lamp Company's multi-step income statement and statement of owner's equity for the year ended December 31, 2018, and a classified balance sheet as of December 31, 2018 9. Calculate the following ratios for DLC as of December 31, 2018: gross profit percentage, inventory turnover, and days' sales in inventory. 10. Record and post the closing entries. 11. Prepare a post-closing trial balance ms 1/10,n/30:4 of the transactid nation ut fields and then Print Done MacBook Pro Mer Durit he Danvers Lamp Company (DLC), owned by Jean Danvers, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. (Click the icon to view the additional information.) The trial balance for DLC as of September 30, 2018 follows: Click the icon to view the trial balance.) Read Purchases Cost of Goods Sold Desk lamps: Inventory on Hand Total Unit Unit Total Unit Total Cost Quantity Cost Cost Date Quantity Cost Sep. 30 Oct 1 2,500 $ Quantity 1,800 $ Cost Cost 10 $ 18,000 5 $ 12,500 1,800 $ 2,500 $ 1,300 $ 2,500 $ 15 500 $ 10$ 5,000 10 $ 18,000 5 $ 12,500 10 $ 13,000 5 $ 12.500 5$ 11,500 Nov. 1 1,300 $ 2,300 $ 10 $ 13,000 5$ 1,000 200 $ 5 2,500 $ 8 $ 20,000 2,300 $ 2,500 $ 15 1,500 $ 5 $ 7,500 800 S 5 s 11,500 8 $ 20,000 $ 4,000 8 $ 20,000 8 $ 12,000 5 Dec. 27 2,500 $ 5$ 800$ 1,000 $ 4,000 1,500 $ 8$ 8,000 31 25$ 8 $ 200 Totals 5,000 1,475 $ $ 32,500 8 $ 11,800 5,325 $ 38,700 Choose from any list of enter any number in the input fields and then click Check Answer 1,475 $ 11,800 46 per remaining Merci During The Danvers Lamp Company (DLC), owned by Jean Danvers, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. (Click the icon to view the additional information.) The trial balance for DLC as of September 30, 2018 follows: Click the icon to view the trial balance.) Read th Cost of Goods Sold Inventory on Hand Purchases Table lamps: Unit Unit Unit Total Total Total Cost Cost Cost Cost Cost Cost Date Quantity Quantity Quantity 3,400 $ 3,400 $ Sep. 30 9,500 $ Oct. 1 19 $ 64,600 19 $ 64,600 24 $ 228,000 24 $ 228,000 9,500 $ 12 3,400 $ 19 $ 64,600 7,900 $ 24 | $ 189,600 1,600 $ 4,500 $ 24$ 38,400 24 $ 108,000 28 3,400 $ 24 $ 81,600 Nov. 5 12,000 $ 25 $ 300,000 3,400 $ 24 $ 81,600 25 $ 300,000 12,000 $ 18 1,900 $ 24 $ 45,600 24 $ 36,000 1,500 $ 12,000 $ Dec. 27 1,500 $ 25 $ 300,000 25 $ 147,500 5,900 $ 6,100 $ 31 24$ 36,000 25 $ 152,500 25 $ 200 $ 445,300 8 $ 5,892 $ 25 $ 147,300 Totals 21,500 $ 528,000 19,008 5,892 $147.300 Choose from any list or enter any number in the input fields and then click Check Answer. 46 remaining parts Clear All Re ext, prepare complete the inventory record for floor lamps. Enter the transactions in chronological order, calculating new inven ecord, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. Re amps, 1,475; table lamps, 5,892; and floor lamps, 11,900 (Enter the oldest inventory layers first.) Floor lamps: Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Total Unit Cost Date Quantity Cost Cost Quantity Cost Quantity 2,200 $ Sep. 30 Oct. 1 4,500 $ 20 $ 90,000 2,200 $ Cost Cost 32 $ 70,400 32 $ 70,400 20 $ 90,000 32 $ 28,800 20 $ 90,000 4,500 $ 28 1,300 $ 32 $ 41,600 900 $ Nov.5 9,000 $ 21 $ 189,000 4,500 $ 900 $ 4,500 $ 9,000 $ 32 $ 28,800 20 $ 90,000 21 $ 189,000 20 $ 58,000 21 $ 189,000 18 900$ 2,900 $ 32 $ 28,800 20 $ 32.000 1,600 $ 9,000 $ Totals 13,500 $ 279.000 3,800 $ 102,400 11,900 $ 247.000 Requirement 3. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line Oct. 28: Sold lamps on account to Pike Home Stores, terms 1/10, 1/30:4,500 table lamps at $40 each and 1,300 floor lamps at $68 each. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and explanation Debit Credit Oct 28 Accounts Receivable-Pike Sales Revenue Sales on account Choose from any list or enter any number in the input fields and then click Check Answer ct 1 of 1 (1 complete) - wers, is a whole i More Info sists of the fo Entory.) d the followi or full amount o ation Oct. 1 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 2,500 desk lamps at $5 each 9,500 table lamps at $24 each 4,500 floor lamps at $20 each 12 Sold lamps on account to Moonbeam Home Furnishings, terms 3/10, 1/30: 5,000 table lamps at $40 each 15 Sold lamps on account to Kennesaw Office Supply, terms 1/10, n/30: 500 desk lamps at $17 each 20 Received a check from Moonbeam Home Furnishings for full amount owed on Oct. 12 sale. 23 Received a check from Kennesaw Office Supply for full amount owed on Oct. 15 sale. 28 Sold lamps on account to Pike Home Stores, terms 1/10, 1/30: 4,500 table lamps at $40 each 1,300 floor lamps at $68 each 30 Paid amount due to Appalachian Lights from Oct. 1 purphase. 31 Paid salaries, $45,000 (60% selling, 40% administrative). 31 Paid utilities, $2,900 (60% selling, 40% administrative). Nov. 1 Sold lamps on account to Kennesaw Office Supply, terms 2/10,n/30: 1,500 desk lamps at $17 each 5 Purchased lamps on account from Appalachian Lights, terms n/30, FOB destination: 2,500 desk lamps at $8 each 12,000 table lamps at $25 each 9,000 floor lamps at $21 each 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale 1/10, 1/30:4 of the transactic tion elds and then Print Done MacBook Pro st 1 of 1 (1 complete) ers, is a whole More Info sists of the entory.) d the follow game or full amount o tion 2,500 desk lamps at $8 each 12,000 table lamps at $25 each 9,000 floor lamps at $21 each 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. 8 Received a check from Kennesaw Office Supply for full amount owed on Nov. 1 sale. 10 Purchased and paid for supplies: $420 for the office: $580 for the warehouse 15 Sold lamps on account to Jackson Office Supply, n/30: 1,500 desk lamps at $17 each 18 Sold lamps on account to Capital Discount Stores, terms 2/10, n/30: 1,900 table lamps at $40 each 2,500 floor lamps at $68 each 28 Received a check from Capital Discount Stores for full amount owed on Nov. 18 sale. 30 Paid salaries, $45,000 (60% selling, 40% administrativi). 30 Paid utilities, $2.480 (60% selling, 40% administrative). Dec. 5 Paid amount due to Appalachian Lights from Nov. 5 purchase. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. 15 Danvers withdrew $25,000 from the business. 27 Sold lamps on account to Moonbeam Home Furnishings, terms 2/10, 1/30: 1,800 desk lamps at $17 each 7,600 table lamps at $40 each 31 Pald salaries, $45,000 (60% selling, 40% administrative). 31 Paid utilities, $3,100 (60% selling, 40% administrative). 1/10, 1/30:4 of the transactid tion elds and then Print Done MacBook Pro 1 of 1 (1 complete) olesale company that purchases lamps from the Merchandise Inventory as of September 30 consists of (Click the icon to view the Merchandise Inventory.) During the fourth quarter of 2018, DLC completed the f (Click the con to view the transactions). Read the requirements. tov - X Data Table Item Quantity Unit Cost Total Cost 1,800 $ 10 $ Desk Lamp Table Lamp 3,400 $ 19 18,000 64,600 70,400 Floor Lamp 2,200 $ 32 $ 4,500 tabl Total 153,000 ction. Do no Print Done en click Check Answer. Clear All meworkid=574711975&questionid=1&flushed=false&cid=6170870¢erwin-yes ct 1 of 1 (1 complete) nvers, is a whole Data Table sists of the following bntory.) bd the following tran WS: Danvers Lamp Company Trial Balance September 30, 2018 Balance Credit for full amount o Account Debit $ mation 395,000 0 153,000 270 280 ms 1/10,n/30:4 Cash Accounts Receivable Merchandise Inventory Office Supplies Warehouse Supplies Land Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation Accounts Payable Danvers, Capital Danvers, Withdrawals Sales Revenue 12.000 860,000 130,000 360,000 of the transactio mation $ 270,000 0 385,100 0 2,649,450 Cost of Goods Sold 1,046,000 06.00 Cala Gwen Calen fields and then Print Done Done MacBook Pro 1 of 1 (1 complete) holes Data Table sists of the follo entory.) d the following 280 Warehouse Supplies 12,000 Land 860,000 130,000 punto 360,000 $ 270,000 0 385,100 0 2,649,450 Building Office Furniture and Equipment Warehouse Fixtures Accumulated Depreciation Accounts Payable Danvers, Capital Danvers, Withdrawals Sales Revenue Cost of Goods Sold Salaries Expense-Selling Utilities Expense-Selling Supplies Expense-Selling Depreciation Expense-Selling Salaries Expense Administrative Utilities Expense Administrative Supplies Expense Administrative Depreciation Expense-Administrative 1,046,000 195,000 37,000 n/30:4 ansactic 0 0 95,000 21,000 0 0 $ 3,304,550 $ Total 3,304,550 and then Print Done Done MacBook Pro x?homeworkld-574711975&questionid=1&flushed=false&cid=6170870¢erwinwyes pject 1 of 1 (1 complete) Danvers, is a wholesale company that purchases lamps from the -> follows: Merchandise Inventory as of September 30 consists of the follow (Click the icon to view the Merchandise Inventory.) During the fourth quarter of 2018, DLC completed the following (Click the icon to view the transactions). Read the requirements. pply for full amount owy * More Info planation w The company has three inventory items: desk lamps, table lamps, and floor lamps. DLC uses a perpetual inventory system, FIFO method. DLC owns land with a building, which is separated into two parts: office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse foxtures. The company uses one accumulated depreciation account for all the depreciable assets. terms 1/10, 1/30: 4,5 -tion of the transaction planation Print Done out fields and then click Check Answer. Clear All MacBook Pro workid=b/4 ct 1 of 1 (1 complete) ers, is a wholes Requirements sists of the fo antory) d the followi Tor full amount ation 1. Open general ledger T-accounts and enter opening balances as of September 30, 2018 2. Open Inventory records for the three inventory items and enter opening balances as of September 30, 2018. Complete the inventory records using the following transactions: Oct. 1, 12, 15, 28; Nov. 1, 5, 15, 18, and Dec. 27. 3. Record the transactions in the general journal. 4. Post transactions to the general ledger 5. Prepare adjusting entries for the year ended December 31, 2018, and post to the ledger: a. Depreciation, $62,500 (60% selling. 40% administrative). b. Supplies on hand: office, $390; warehouse, $610. c. A physical inventory account resulted in the following counts: desk lamps, 1.475; table lamps, 5,892, and floor lamps, 11.900. Update the inventory records. 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in Inventory for each item in the following format: Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error 8. Prepare Danvers Lamp Company's multi-step income statement and statement of owner's equity for the year ended December 31, 2018, and a classified balance sheet as of December 31, 2018 9. Calculate the following ratios for DLC as of December 31, 2018: gross profit percentage, inventory turnover, and days' sales in inventory. 10. Record and post the closing entries. 11. Prepare a post-closing trial balance ms 1/10,n/30:4 of the transactid nation ut fields and then Print Done MacBook Pro
