please check if all results are correct..and help me solve the las 4 pages.thanks

help me figure out the last two pages

Comprehensive Project BestValue Corporation's Trial Balance at December 31, 20XX is presented below. All 20xx transactions have been recorded except for the items described on the next page. Credit Debit 109,890 28,789 25,540 0 55,674 215,850 75,120 1,027 63,306 16,048 35,278 0 48,900 0 0 0 0 Cash Accounts Receivable Inventory Debt Investments Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Unearned Rent Revenue Dividends Payable Income Tax Payable Bonds Payable Discount on Bonds Payable Common Stock ($2 par) Paid in Capital in Excess of Par-Common Stock Preferred Stock ($60 par) Paid in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Gain on Sale of Land Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense Income Tax Expense Total 29,200 44,580 0 0 107,904 OO 776,068 0 0 0 0 478,542 0 53,274 79,632 0 $ 1,122,311 $ 1,122,311 Round all calculations if necessary to -- decimals (to the nearest dollar, do not show cents). 1. On January 1, 20XX, BestValue issued 520 shares of $60 par, 5% preferred stock for $75,810. 2. On January 1, 20XX, Best Value also issued 5,800 shares of common stock for $42,050. 3. On January 1, 20XX, Best Value issued $325,000, 5.5%, 9 year bonds when the market rate was 6%. Interest is to be paid annually on each January 1, beginning 1 year from date of issue. 4. Best Value reacquired 3,600 shares of its common stock on January 12, 20xx for $8.50 per share. 5. On December 31, 20XX, BestValue declared the annual preferred dividend plus a $2.75 per 5.26 share dividend on the outstanding common stock, all payable in cash on January 31 of next year. 6. On December 31, 20XX, Best Value estimates that the total amount of accounts receivable that is uncollectible at year end is $1,850. 7. The building is being depreciated using the straight line method over 25 years. The salvage value is $100,000. 8. The equipment is being depreciated using the straight line method over 5 years. The salvage value is $15,000. 9. Sold the Land for $60,000 cash. 10. Bought Debt Investments worth $200,000 for cash. 11. The unearned rent was collected on December 1, 20XX. It was receipt of 3 months' rent in advance (December 1, 20XX through February 28 of next year). 12. The first cash interest payment on the 5.5% bonds is due January 1 of next year. The annual interest on the bonds for 20XX has not yet been recorded. Use the effective interest method. 13. The BestValue Corporation must make an adjusting entry to accrue income tax expense on Income Before Income Tax at a rate of 36%. The taxes will not be paid until March of next year. Instructions: (a) Prepare journal entries for the transactions listed above. (b) Prepare an updated December 31, 20XX trial balance. (c) Prepare a multiple-step income statement for the year ending December 31, 20xx. 1o Prepare a retained earnings statement for the year ending December 31, 20XX. (e) Prepare a classified balance sheet as of December 31, 20XX. (1) Prepare a Statement of Cash Flows as of December 31, 20XX. (g) and (h) Calculate and analyze the following ratios, clearly presenting your work and answers: 1. Working Capital 2. Current Ratio 3. Return on Stockholders' Equity (use ending Common Stockholders' Equity) 4. EPS (all shares are already weighted) 5. Payout Ratio 6. Debt to Assets Ratio 7. Times Interest Earned 8. Free Cash Flow 3 BestValue Corporation General Journal Date 1. Credit Debit 5 75 810 Account Titles Cash Preferred stuck Paid in Capital in Excess Of Par-Preferred shock 31,200 44 610 2. 42,050 Cash Commun Stock Paid in capital in Excess of para common stock 304 Sb 3. -Cash Discount on Bonds Payable Bonds Payable 313, 947 1053 325,000 4. Treasury Stock Cash 30, 600 30 600 5. 17.5lo Retained Cornings Dividends Payable 17, 510 6. 1,850 Bab Debt expense Allowance for doubtful accounts 1,85 7. 4,634 Deprecation Expense Accumulated Depreciation Buildings 4634 8. 12,029 42,024 Depreciation Expense Accumulated Depreciation- Equipment 9. Cash 60,000 Land 55, 674 41326 CONTINUED Gain on sale of land CR 10. Debt investments cash DR 2001ODO 11 16.300 Unearned Rent Rent Revenue 16,300 12 Interest Expense Discount on Bonds Payable Interest Pavo ble 17267 6 08 11875 53, BIO 13. Income Tax Expense Income tax payable 53,810 total $ 857,463 $ 857,463 (b) BestValue Corporation Updated Trial Balance 12/31/20XX DR CR 28789 25,5 40 200 1 215, 850 75, 120 21877 67,940 28,072 35,278 17.875 17, 510 32,600 53 210 325,000 1661 Cash Accounts Receivable Inventory Debt Investments Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Income Tax Payable Bonds Payable Discount on Bonds Payable Common Stock ($2 par) Paid-in Capital in Excess of Par - Common Stock Preferred Stock ($60 par) Paid-in Capital in Excess of Par - Preferred Stock Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Gain on Sale of Land Bad Debts Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense Income Tax Expense Totals 40800 75,030 31,200 44.610 90, 394 39,600 776,068 16,300 4.326 1,850 17, 267 478 542 16,658 53, 274 19,632 53, B10 1659 690 1,659,690 BestValue Corporation Income Statement For the Year Ended December 31, 20XX Sol Revenue Rent Revenue Gath on sale of land Less Costo: Gasils Sold 116, 968 478 5422 153, 2792 Other Operating Expenses Depreciation Expense Interest Expense Income Tax Expenses Salaries and was Expenses Bad Debt Expense 16,552 17,257 53,310 79 632 (169,217) Net Income $95.66 (d) Best Value Corporation Retained Earnings Statement For the Year Ended December 31, 20XX Retained Earnings - Beginning less: Dividends payable Net Income 107,904 (17,510) 95, 661 $186,055 Retained Earnings Ending 2.5540 BestValue Corporation Balance Sheet 12/31/20XX Assets Cash inventory Accounts Bocina 279 Al for dowlul Accounts 22350 Coulement 75/120 Land Accumulated depreciation - building 0940 Accrmulated depreciation - Forsiement 22 072) Debt investments hele Assels 5220270 $.900.00 S 27 SO 35,212 17,875 17, 510 53,80 32,600 Liabilities and Stockholders' Equity Conent liabilities: Accounts payable perest Payable Dwi donds Payable Income to puble eamed Ronte Discount on Bonds Payable Bonds payable 325 000 Common Stock paid in capital in excess of par- 15.030 Common stock preferred stock 21 200 Pois in capital in excess of par- 441610 treasury stock 30,600) Retained earnings 186055 dividends total stockholder's equity tolal Habilities and Stockholders equity preferred stock 811.507 Eatement of Cash Flows: BESTVALUE CORPORATION Comparative Balance Sheets December 31 of the previous year 1 Cash Accounts Receivable (net of AFDA) Inventory Land Buildings Equipment Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Unearned Rent Revenue Dividends Payable Income Tax Payable $ 115,982 11,208 15,790 55,674 215,850 75,120 63,306 16,048 47,598 0 0 =tructions: Use the Balance Sheet for December 31, 20xx and the above ending Hances for last year's Balance Sheet accounts to prepare the "Net cash provided by operating tivities" section of the Cash Flow Statement below using the indirect method. $ 95 661 BESTVALUE CORPORATION Statement of Cash Flows December 31, 20XX Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Add: Depreciation expense Add: Bad debt expense Less: Gain on sale of land Increase in accounts receivable Increase in inventory Decrease in accounts payable Increase in unearned rent revenue Increase in interest payable Increase in dividends payable Increase in income taxes payable Net cash provided by operating activities $ 16,658 11850 (4/326 (17,581) 9.750 (12,320) 321600 17/ 875 17,510 53,810 963,26 $19.987 (g) Calculating Ratios: Instructions: Using the ratios as found in our textbook, calculate the following for the Best Value Corp. using the numbers you've arrived at in the project. Note: Round answers to 2 decimal places, as needed. All work must be presented! 1. Working Capital: Current assets - Current abilities 2. Current Ratio: current Assets Qurrent liabilities 3. Return on Stockholders' Equity: (use ending Common Stockholders' Equity, not average. Common Stockholders' Equity does not include par value of preferred stock.) Net income Preferred dividends Average common stockholder's equity / 2 4. EPS: (assume all shares are already weighted) Net income preferred dividends weighted - average common Share's outstanding (8) Calculating Ratios, cont.: Instructions: Using the ratios as found in our textbook, calculate the following for the BestValue Corp. using the numbers you've arrived at in the project. Note: Round answers to 2 decimal places, as needed. All work must be presented! 5. Payout Ratio: Cash dividends declared com mun stock Net income 6. Debt to Assets Ratio: total liabilities total assets Interest 7. Times Interest Earned: Net income + + Income tax expense expense interest expense 8. Free Cash Flow (after dividends would have been paid): Net cash provided Cash by operating activities expenditures dividends capital (h) Ratio Analysis: Instructions: For each of the ratios below, analyze and describe how BestValue's ratio compares to its nearest competitor, Apple, Inc. See Appendix A in the back of your textbook for Apple's annual financial statements. Use the most current year, 2015, for your calculations. Note: Be sure to show the calculation of Apple's ratios below! 1. Working Capital: 2. Current Ratio: 3. Return on Stockholders' Equity: (use ending Common Stockholders' Equity, not average. Common Stockholders' Equity does not include par value of preferred stock.) 4. EPS: (already calculated in Apple's Income Statement) (h) Ratio Analysis, cont.: Instructions: For each of the ratios below, analyze and describe how BestValue's ratio compares to its nearest competitor, Apple, Inc. See Appendix A in the back of your textbook for Apple's annual financial statements. Use the most current year, 2015, for your calculations. Note: Be sure to show the calculation of Apple's ratios below! 5. Payout Ratio: 6. Debt to Assets ratio: 7. Times Interest Earned: (Note: Apple's 2015 10-K shows $733 (in millions) in Interest Expense) 8. Free Cash Flow