On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances Accounts Debit Credit Cash $ 44,400 Accounts Receivable 47,900 Supplies 9,200 Equipment 81,000 Accumulated Depreciation $ 10,700 Accounts Payable 16,300 Common Stock, $1 par value 17,000 Additional Paid in Capital 97,000 Retained Earnings 41,500 Totals $ 182,500 $ 182,500 During January 2018, the following transactions occur January 2 Issue an additional 2,100 shares of $1 par value common stock for $42,000 January 9 Provide services to customers on account, $19,300 January 10 Purchase additional supplies on account, $6,600 January 12 Repurchase 1,200 shares of treasury stock for $20 per share January 15 Pay cash on accounts payable, $18,200 January 21 Provide services to customers for cash, $50,800 January 22 Receive cash on accounts receivable, $18,300 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 17,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock ) January 30 Reissue 500 shares of treasury stock for $22 per share January 31 Pay cash for salaries during January, $43,700 The following information is available on January 31, 2018 Unpaid utilities for the month of January are $7,900 Supplies at the end of January total $6,800 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 $11,700 Accrued income taxes at the end of January are $2,800 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 return on equity for the industry for January is 2 60 , 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 year's average Earnings per share is Is earnings per share for January 2018 better or worse than last year's average

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On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash $ 44,400 Accounts Receivable 47,900

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

Accounts	Debit		Credit
Cash	$	44,400
Accounts Receivable		47,900
Supplies		9,200
Equipment		81,000
Accumulated Depreciation			$	10,700
Accounts Payable				16,300
Common Stock, $1 par value				17,000
Additional Paid-in Capital				97,000
Retained Earnings				41,500

Totals	$	182,500	$	182,500

During January 2018, the following transactions occur:

January 2	Issue an additional 2,100 shares of $1 par value common stock for $42,000.
January 9	Provide services to customers on account, $19,300.
January 10	Purchase additional supplies on account, $6,600.
January 12	Repurchase 1,200 shares of treasury stock for $20 per share.
January 15	Pay cash on accounts payable, $18,200.
January 21	Provide services to customers for cash, $50,800.
January 22	Receive cash on accounts receivable, $18,300.
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 17,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.)
January 30	Reissue 500 shares of treasury stock for $22 per share.
January 31	Pay cash for salaries during January, $43,700.

The following information is available on January 31, 2018.

Unpaid utilities for the month of January are $7,900.
Supplies at the end of January total $6,800.
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 $11,700.
Accrued income taxes at the end of January are $2,800.

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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 return on equity for the industry for January is 2.60%, 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 year's average? Earnings per share is: Is earnings per share for January 2018 better or worse than last year's average?