On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances:

Accounts	Debit			Credit
Cash	$	43,500
Accounts Receivable		46,100
Supplies		8,300
Equipment		72,000
Accumulated Depreciation				$	9,800
Accounts Payable					15,400
Common Stock, $1 par value					18,000
Additional Paid-in Capital					88,000
Retained Earnings					38,700
Totals	$	169,900		$	169,900

During January 2018, 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, $16,800.
January 10	Purchase additional supplies on account, $5,700.
January 12	Repurchase 1,100 shares of treasury stock for $21 per share.
January 15	Pay cash on accounts payable, $17,300.
January 21	Provide services to customers for cash, $49,900.
January 22	Receive cash on accounts receivable, $17,400.
January 29	Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15.
	(Hint: Grand Finale Fireworks had 18,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.)
January 30	Reissue 900 shares of treasury stock for $23 per share.
January 31	Pay cash for salaries during January, $42,800.

The following information is available on January 31, 2018.

1. Unpaid utilities for the month of January are $7,000.
2. Supplies at the end of January total $5,900.
3. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,800.
4. Accrued income taxes at the end of January are $2,800.

1. Prepare a general journal for the above transactions and include the adjusting entry for utilities, supplies, depreciation, and income tax. Also include closing entries for revenue, expenses, and dividends.

2. Prepare an income statement and balance sheet as well.

3. and when finished complete the following analysis:

Analyze the following for Grand Finale Fireworks:
(a) Calculate the return on equity for the month of January. If the average return 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 is:		%
Is the company more or less profitable than other companies?
(b) How many shares of common stock are outstanding as of January 31, 2018?
The number of common shares outstanding as of January 31, 2018 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 (i.e., an average of $0.20 per month), is earnings per share for January 2018 better or worse than last years average?
Earnings per share is:
Is earnings per share for January 2018 better or worse than last years average?