Needing help with this. Is there anyway anyone can else me?

Smith Company Account Name Accounts payable Accounts receivable Accumulated depreciation - buildings Accumulated depreciation - fixtures Advances from customers Advertising expense Allowance for bad debts Bad debt expense Bonds payable -long term Buildings Cash Common Stock ($1 par) Copyrights Cost of goods sold Depreciation expense Dividends Fixtures Gain on the sale of land Goodwill Income tax expense Income tax payable Interest expense Interest payable Inventories Land Long-term notes payable Other operating expenses Prepaid advertising Retained Earnings Salaries expense Salaries payable Sales Short-term investments Short-term notes payable Supplies expense December 31, 2015 December 31, 2016 $250 $275 $179 $200 $513 $615 $690 $915 $25 $20 $271 $273 $25 $25 $100 $130 $1,000 $1,000 $1,200 $1,200 $85 $435 $500 $500 $21 $21 $5,700 $5,800 $325 $327 $50 $50 $1,800 $2,300 $0 $75 $110 $110 $107 $250 $125 $85 $78 $78 $14 $14 $691 $750 $200 $0 $110 $0 $690 $650 $65 $85 $780 $1,189 $1,246 $1,250 $120 $150 $9,075 $9,425 $220 $300 $10 $0 $99 $79 I agree to work alone and submit my own work ________________________________ Date ____________ Using Cell references from the account data provided on the test file: 1) Prepare a trial balance in proper order (assets first, liabilities, equity, dividends, revenue, expenses) for 2016. 2) Prepare an income statement for 2016. 3) Prepare a statement of retained earnings for 2016. 4) Prepare a balance sheet for 2016. 5) Prepare a cash flow statement for 2016. Fixtures were purchased for cash and some of the cash from the land sale was use to pay off debt and buy investments. 6) Complete the ratios requested on tab 2 7) Complete a vertical and horizontal analysis of the income statement on tab 3. _ Date ____________ y, dividends, or cash and some ments. nt on tab 3. Current Ratio Debt to Total Equity Ratio Inventory Turnover Ratio Gross Profit Margin Return on Assets Return on Equity Earnings Per Share Trial balance ACCOUNTING TITLE Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories Copyrights Goodwill Fixtures Buildings Land Bonds payable -long term Long-term notes payable Accounts payable Advances from customers Short-term notes payable Salaries payable Interest payable Income tax payable Common Stock ($1 par) Retained Earnings Dividends(Paid) Sales Gain on the sale of land Cost of goods sold Advertising expense Bad debt expense Depreciation expense Income tax expense Interest expense Other operating expenses Salaries expense Supplies expense Accumulated depreciation - buildings Accumulated depreciation - fixtures Balancing figure YEAR ENDING 2015/12/31 Dr Cr $ 85.00 $ 220.00 $ 65.00 $ 179.00 $ 25.00 $ 691.00 $ 21.00 $ 110.00 $ 1,800.00 $ 1,200.00 $ 200.00 $ 1,000.00 $ 110.00 $ 250.00 $ 25.00 $ 10.00 $ 120.00 $ 14.00 $ 125.00 $ 500.00 $ 780.00 $ 50.00 $ 9,075.00 $ $ 5,700.00 $ 271.00 $ 100.00 $ 325.00 $ 107.00 $ 78.00 $ 690.00 $ 1,246.00 $ 99.00 $ 513.00 $ 690.00 $ 50.00 $ 13,262.00 $ 13,262.00 YEAR ENDING 2016/12/31 Dr $ 435.00 $ 300.00 $ 85.00 $ 175.00 $ 20.00 $ 750.00 ### ### $ 2,300.00 ### $ - ### $ $ $ $ $ $ $ $ 5,800.00 273.00 130.00 327.00 250.00 ### 650.00 1,250.00 79.00 $ 14,283.00 ENDING 2016/12/31 Cr 251 $ $ $ $ $ $ $ $ $ $ 1,000.00 275.00 20.00 150.00 14.00 85.00 500.00 1,189.00 $ $ 9,425.00 75.00 $ $ 615.00 915.00 $ 14,263.00 Accounting title Sales Less cost of goods Gross profit Operating Expenses Advertising expense Bad debt expense Depreciation expense Salaries expense Supplies expense Other operating expenses total operating expenses Operating income Non-operating income Gain from sale of land Income tax expense Interest expense Total non-operating incomes Net profit $ $ $ 9,425.00 $ (5,800.00) $ 3,625.00 $ 251.00 $ 130.00 $ 327.00 $ 1,220.00 $ 79.00 $ 650.00 130 1220 $ (2,657.00) $ 968.00 $ $ $ 75.00 (290.00) (78.00) 290 $ $ (293.00) 675.00 DETAILS Beginning balance (1/1/2016) add net income for fiscal year 2016 Total Less dividends declared and paid Closing balance 31/12/2016 $ $ $ 780.00 $ 675.00 $ 1,455.00 $ (50.00) $ 1,405.00 Details Non-current assets Buildings fixtures Copyrights Goodwill Current assets Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories Current liabilities Accounts payable Advances from customers Salaries payable Interest payable Income tax payable Net assets Financed by Bonds payable -long term Long-term notes payable Common Stock ($1 par) Retained Earnings $ Cost $ 1,200.00 $ 2,300.00 $21.00 $110.00 $ accumulated dreciation $ 615.00 $ 915.00 $ $ - $ $ $ $ $ $ 435.00 85.00 200.00 20.00 750.00 $ $ $ $ $ $ 275.00 20.00 150.00 14.00 85.00 $ $ 1,000.00 $ $ 500.00 $ 1,405.00 $ 2,905.00 $ $ Net book value $ 585.00 $ 1,385.00 $21.00 $110.00 $ 2,101.00 1,490.00 (544.00) $ $ 142.00 946.00 3,047.00 251 Trial balance ACCOUNTING TITLE Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories Copyrights Goodwill Fixtures Buildings Land Bonds payable -long term Long-term notes payable Accounts payable Advances from customers Short-term notes payable Salaries payable Interest payable Income tax payable Common Stock ($1 par) Retained Earnings Dividends(Paid) Sales Gain on the sale of land Cost of goods sold Advertising expense Bad debt expense Depreciation expense Income tax expense Interest expense Other operating expenses Salaries expense Supplies expense Accumulated depreciation - buildings Accumulated depreciation - fixtures Balancing figure YEAR ENDING 2015/12/31 Dr Cr $ 85.00 $ 220.00 $ 65.00 $ 179.00 $ 25.00 $ 691.00 $ 21.00 $ 110.00 $ 1,800.00 $ 1,200.00 $ 200.00 $ 1,000.00 $ 110.00 $ 250.00 $ 25.00 $ 10.00 $ 120.00 $ 14.00 $ 125.00 $ 500.00 $ 780.00 $ 50.00 $ 9,075.00 $ $ 5,700.00 $ 271.00 $ 100.00 $ 325.00 $ 107.00 $ 78.00 $ 690.00 $ 1,246.00 $ 99.00 $ 513.00 $ 690.00 $ 50.00 $ 13,262.00 $ 13,262.00 YEAR ENDING 2016/12/31 Dr $ 435.00 $ 300.00 $ 85.00 $ 200.00 $ 20.00 $ 750.00 ### ### $ 2,300.00 ### $ - ### $ $ $ $ $ $ $ $ 5,800.00 273.00 130.00 327.00 250.00 ### 650.00 1,250.00 79.00 $ $ (45.00) 14,263.00 ENDING 2016/12/31 Cr changes $ $ $ $ $ $ $ $ $ $ 1,000.00 275.00 20.00 150.00 14.00 85.00 500.00 1,189.00 $ $ 9,425.00 75.00 $ $ 615.00 915.00 $ 14,263.00 $ 350.00 $ 80.00 $ 20.00 $ 21.00 $ (5.00) $ 59.00 $ $ $ 500.00 $ $ (200.00) $ $ (110.00) $ 25.00 $ (5.00) $ (10.00) $ 30.00 $ $ (40.00) $ $ 409.00 $ - Accounting title Sales opening stock Less cost of goods Closing cost Gross profit Operating Expenses Advertising expense Bad debt expense Depreciation expense Salaries expense Supplies expense Other operating expenses total operating expenses Operating income Non-operating income Sale of land Gain from sale of land Income tax expense Interest expense Total non-operating incomes $ $ $ 9,425.00 $ 691.00 $ 5,800.00 $ 750.00 $ (5,741.00) $ 3,684.00 $ 273.00 $ 130.00 $ 327.00 $ 1,250.00 $ 79.00 $ 650.00 $ (2,709.00) $ 975.00 $ 200.00 $ 75.00 $ (250.00) $ (78.00) $ $ (53.00) 922.00 DETAILS Beginning balance (1/1/2016) add net income for fiscal year 2016 Total Less dividends declared and paid Closing balance 31/12/2016 $ $ $ 780.00 $ 922.00 $ 1,702.00 $ (50.00) $ 1,702.00 Details Non-current assets Buildings fixtures Current assets Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories $ Cost $ 1,200.00 $ 2,300.00 $ accumulated dreciation $ 615.00 $ 915.00 $ $ $ $ $ $ Total assets $ Net book value $ 585.00 $ 1,385.00 $ 1,970.00 435.00 300.00 85.00 200.00 20.00 750.00 $ 1,790.00 $ 3,760.00 Current liabilities Accounts payable Advances from customers Salaries payable Interest payable Income tax payable $ $ $ $ $ 275.00 20.00 150.00 14.00 85.00 $ 544.00 long-term liabilities Bonds payable -long term Common Stock ($1 par) Retained Earnings $ $ $ 1,000.00 500.00 1,702.00 $ 3,202.00 $ 3,746.00 Cash flows from operating activities Net income Adjustments for: Depreciation and amortization Provision for losses on accounts receivable Gain on sale of facility Increase in trade receivables Increase in inventories Increase in trade payables $ 922.00 $ $ $ 327.00 130.00 (75.00) $ 382.00 $ $ $ (21.00) (59.00) 25.00 $ (55.00) $ 1,249.00 $ (3,438.00) $ 2,539.00 $ $ $ 350.00 85.00 435.00 Cash generated from operations Cash flows from investing activities Purchase of property, plant, and equipment Proceeds from sale of equipment Net cash used in investing activities $ (3,500.00) $ 62.00 Cash flows from financing activities Proceeds from issue of common stock Proceeds from issuance of long-term debt Dividends paid Net cash used in financing activities $ 1,589.00 $ 1,000.00 $ (50.00) Net increase in cash and cash equivalents Net increase in cash and cash equivalents Cash and cash equivalents at end of period Current Ratio= current assets/current liabities Debt to Total Equity Ratio=total liabilities/total equity Inventory Turnover Ratio=cost of goods sold/average inventory Gross Profit Margin = gross profit/total sales Return on Assets =net income/average total assets Return on Equity =net income/shareholders equity Earnings Per Share= (net income-preffered dividends)/shares outstanding 3.29 3.29times 0.70 70% 8.05 8.05times 0.39 39% 0.18 18% 0.42 $ 0.42 1.84 $ 1.84 INCOME STATEMENT 31/12/2015 Accounting title $ $ Sales $ Less cost of goods $ Gross profit $ Operating Expenses Advertising expense $ 271.00 Bad debt expense $ 100.00 Depreciation expense $ 325.00 Salaries expense $ 1,246.00 Supplies expense $ 99.00 Other operating expenses $ 690.00 total operating expenses $ Operating income $ Non-operating income Sale of land $ Gain from sale of land $ Income tax expense $ (107.00) Interest expense $ (78.00) Total non-operating incomes $ Net Income $ 9,075.00 (5,700.00) 3,375.00 (2,731.00) 644.00 (185.00) 459.00 INCOME STATEMENT 31/12/2016 Accounting title Sales Less cost of goods Gross profit Operating Expenses Advertising expense Bad debt expense Depreciation expense Salaries expense Supplies expense Other operating expenses total operating expenses Operating income Non-operating income Sale of land Gain from sale of land Income tax expense Interest expense Total non-operating incomes $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Horizontal analysis %change(base year 2015) 9,425.00 104% (5,800.00) 102% 3,625.00 107% $ $ (2,709.00) 916.00 101% 130% 101% 100% 80% 94% 99% 142% (53.00) 863.00 43% 100% 29% 188% 273.00 130.00 327.00 1,250.00 79.00 650.00 200.00 75.00 (250.00) (78.00) $ $ sales increased by 4% cost of good increased by 2% gross profit increased by 7% advertising expense increased by 1% bad debt expense increased by 4% depreciation expense increased by 1% salaries expense did not change Supplies expense decreased by 20%=(1-80%) Other operating expenses decreased by 6%=(1-94%) total operating expenses decreased by 1%=(1-99%) Operating income increased by 42% Income tax expense decreased by57%=(1-43%) Interest expense did not change Income tax expense decreased by 71%=(1-29%) Net Income increased by 88% INCOME STATEMENT 31/12/2016 Accounting title $ $ Sales $ Less cost of goods $ Gross profit $ Operating Expenses Advertising expense $ 273.00 Bad debt expense $ 130.00 Depreciation expense $ 327.00 Salaries expense $ 1,250.00 Supplies expense $ 79.00 Other operating expenses $ 650.00 total operating expenses $ Operating income $ Non-operating income Sale of land $ 200.00 Gain from sale of land $ 75.00 Income tax expense $ (250.00) Interest expense $ (78.00) Total non-operating incomes $ $ Horizontal analysis % of sales 9,425.00 100% (5,800.00) 62% 3,625.00 38% (2,709.00) 916.00 3% 1% 3% 13% 1% 7% 29% 10% (53.00) 863.00 2% 1% 3% 1% 1% 9% Trial balance ACCOUNTING TITLE Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories Copyrights Goodwill Fixtures Buildings Land Bonds payable -long term Long-term notes payable Accounts payable Advances from customers Short-term notes payable Salaries payable Interest payable Income tax payable Common Stock ($1 par) Retained Earnings Dividends(Paid) Sales Gain on the sale of land Cost of goods sold Advertising expense Bad debt expense Depreciation expense Income tax expense Interest expense Other operating expenses Salaries expense Supplies expense Accumulated depreciation - buildings Accumulated depreciation - fixtures Balancing figure YEAR ENDING 2015/12/31 Dr Cr $ 85.00 $ 220.00 $ 65.00 $ 179.00 $ 25.00 $ 691.00 $ 21.00 $ 110.00 $ 1,800.00 $ 1,200.00 $ 200.00 $ 1,000.00 $ 110.00 $ 250.00 $ 25.00 $ 10.00 $ 120.00 $ 14.00 $ 125.00 $ 500.00 $ 780.00 $ 50.00 $ 9,075.00 $ $ 5,700.00 $ 271.00 $ 100.00 $ 325.00 $ 107.00 $ 78.00 $ 690.00 $ 1,246.00 $ 99.00 $ 513.00 $ 690.00 $ 50.00 $ 13,262.00 $ 13,262.00 YEAR ENDING 2016/12/31 Dr $ 435.00 $ 300.00 $ 85.00 $ 200.00 $ 20.00 $ 750.00 ### ### $ 2,300.00 ### $ - ### $ $ $ $ $ $ $ $ 5,800.00 273.00 130.00 327.00 250.00 ### 650.00 1,250.00 79.00 $ $ (45.00) 14,263.00 ENDING 2016/12/31 Cr changes $ $ $ $ $ $ $ $ $ $ 1,000.00 275.00 20.00 150.00 14.00 85.00 500.00 1,189.00 $ $ 9,425.00 75.00 $ $ 615.00 915.00 $ 14,263.00 $ 350.00 $ 80.00 $ 20.00 $ 21.00 $ (5.00) $ 59.00 $ $ $ 500.00 $ $ (200.00) $ $ (110.00) $ 25.00 $ (5.00) $ (10.00) $ 30.00 $ $ (40.00) $ $ 409.00 $ - Accounting title Sales opening stock Less cost of goods Closing cost Gross profit Operating Expenses Advertising expense Bad debt expense Depreciation expense Salaries expense Supplies expense Other operating expenses total operating expenses Operating income Non-operating income Sale of land Gain from sale of land Income tax expense Interest expense Total non-operating incomes $ $ $ 9,425.00 $ 691.00 $ 5,800.00 $ 750.00 $ (5,741.00) $ 3,684.00 $ 273.00 $ 130.00 $ 327.00 $ 1,250.00 $ 79.00 $ 650.00 $ (2,709.00) $ 975.00 $ 200.00 $ 75.00 $ (250.00) $ (78.00) $ $ (53.00) 922.00 DETAILS Beginning balance (1/1/2016) add net income for fiscal year 2016 Total Less dividends declared and paid Closing balance 31/12/2016 $ $ $ 780.00 $ 922.00 $ 1,702.00 $ (50.00) $ 1,702.00 Details Non-current assets Buildings fixtures Current assets Cash Short-term investments Prepaid advertising Accounts receivable Allowance for bad debts Inventories $ Cost $ 1,200.00 $ 2,300.00 $ accumulated dreciation $ 615.00 $ 915.00 $ $ $ $ $ $ Total assets $ Net book value $ 585.00 $ 1,385.00 $ 1,970.00 435.00 300.00 85.00 200.00 20.00 750.00 $ 1,790.00 $ 3,760.00 Current liabilities Accounts payable Advances from customers Salaries payable Interest payable Income tax payable $ $ $ $ $ 275.00 20.00 150.00 14.00 85.00 $ 544.00 long-term liabilities Bonds payable -long term Common Stock ($1 par) Retained Earnings $ $ $ 1,000.00 500.00 1,702.00 $ 3,202.00 $ 3,746.00 Cash flows from operating activities Net income Adjustments for: Depreciation and amortization Provision for losses on accounts receivable Gain on sale of facility Increase in trade receivables Increase in inventories Increase in trade payables $ 922.00 $ $ $ 327.00 130.00 (75.00) $ 382.00 $ $ $ (21.00) (59.00) 25.00 $ (55.00) $ 1,249.00 $ (3,438.00) $ 2,539.00 $ $ $ 350.00 85.00 435.00 Cash generated from operations Cash flows from investing activities Purchase of property, plant, and equipment Proceeds from sale of equipment Net cash used in investing activities $ (3,500.00) $ 62.00 Cash flows from financing activities Proceeds from issue of common stock Proceeds from issuance of long-term debt Dividends paid Net cash used in financing activities $ 1,589.00 $ 1,000.00 $ (50.00) Net increase in cash and cash equivalents Net increase in cash and cash equivalents Cash and cash equivalents at end of period Current Ratio= current assets/current liabities Debt to Total Equity Ratio=total liabilities/total equity Inventory Turnover Ratio=cost of goods sold/average inventory Gross Profit Margin = gross profit/total sales Return on Assets =net income/average total assets Return on Equity =net income/shareholders equity Earnings Per Share= (net income-preffered dividends)/shares outstanding 3.29 3.29times 0.70 70% 8.05 8.05times 0.39 39% 0.18 18% 0.42 $ 0.42 1.84 $ 1.84 INCOME STATEMENT 31/12/2015 Accounting title $ $ Sales $ Less cost of goods $ Gross profit $ Operating Expenses Advertising expense $ 271.00 Bad debt expense $ 100.00 Depreciation expense $ 325.00 Salaries expense $ 1,246.00 Supplies expense $ 99.00 Other operating expenses $ 690.00 total operating expenses $ Operating income $ Non-operating income Sale of land $ Gain from sale of land $ Income tax expense $ (107.00) Interest expense $ (78.00) Total non-operating incomes $ Net Income $ 9,075.00 (5,700.00) 3,375.00 (2,731.00) 644.00 (185.00) 459.00 INCOME STATEMENT 31/12/2016 Accounting title Sales Less cost of goods Gross profit Operating Expenses Advertising expense Bad debt expense Depreciation expense Salaries expense Supplies expense Other operating expenses total operating expenses Operating income Non-operating income Sale of land Gain from sale of land Income tax expense Interest expense Total non-operating incomes $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Horizontal analysis %change(base year 2015) 9,425.00 104% (5,800.00) 102% 3,625.00 107% $ $ (2,709.00) 916.00 101% 130% 101% 100% 80% 94% 99% 142% (53.00) 863.00 43% 100% 29% 188% 273.00 130.00 327.00 1,250.00 79.00 650.00 200.00 75.00 (250.00) (78.00) $ $ sales increased by 4% cost of good increased by 2% gross profit increased by 7% advertising expense increased by 1% bad debt expense increased by 4% depreciation expense increased by 1% salaries expense did not change Supplies expense decreased by 20%=(1-80%) Other operating expenses decreased by 6%=(1-94%) total operating expenses decreased by 1%=(1-99%) Operating income increased by 42% Income tax expense decreased by57%=(1-43%) Interest expense did not change Income tax expense decreased by 71%=(1-29%) Net Income increased by 88% INCOME STATEMENT 31/12/2016 Accounting title $ $ Sales $ Less cost of goods $ Gross profit $ Operating Expenses Advertising expense $ 273.00 Bad debt expense $ 130.00 Depreciation expense $ 327.00 Salaries expense $ 1,250.00 Supplies expense $ 79.00 Other operating expenses $ 650.00 total operating expenses $ Operating income $ Non-operating income Sale of land $ 200.00 Gain from sale of land $ 75.00 Income tax expense $ (250.00) Interest expense $ (78.00) Total non-operating incomes $ $ Horizontal analysis % of sales 9,425.00 100% (5,800.00) 62% 3,625.00 38% (2,709.00) 916.00 3% 1% 3% 13% 1% 7% 29% 10% (53.00) 863.00 2% 1% 3% 1% 1% 9%