On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Debit Credit Accounts $ 42,800 44,700 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital 7,600 65,000 $ 9,100 14,700 11,000 81,000 Retained Earnings 44,300 Totals $160,100 $160,100 During January 2021, the following transactions occur: 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000 9 Provide services to customers on account, $14,000. 10 Purchase additional supplies on account, $5,000. 12 Purchase 1,100 shares of treasury stock for $19 per share. January January January January January 15 Pay cash on accounts payable, $16,600. January 21 Provide services to customers for cash, $49,200. January 22 Receive cash on accounts receivable, $16,700 January 29 Declare a cash dividend of $0.40 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 11,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 800 shares of treasury stock for $21 per share January 31 Pay cash for salaries during January, $42,100 The following information is available on January 31, 2021. The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $6,300. b. Supplies at the end of January total $5,20. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,100. d. Accrued income taxes at the end of January are $2,100. 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 company more or less profitable than othnth of January. If the average return on equity for the industry for January is 2.40%, is the other companies in the same industry? 3.7 x% The return on equity is: More the company more or less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2021? 11,100X The number of common shares outstanding as of January 31, 2021 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 outstand ing 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 2021 better or worse than last year's average? 3.34 Earnings per share is: better earnings per share for January 2021 better or worse than last year's average