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Please fill in the formulas and ratios on the last picture Balance Sheet As of August 31, 2021 TOTAL ASSETS Current Assets Bank Accounts Accrued

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedPlease fill in the formulas and ratios on the last picture

Balance Sheet As of August 31, 2021 TOTAL ASSETS Current Assets Bank Accounts Accrued Service Expense Accrued Service Revenue Cash Depreciation was recorded on the truck for the month Prepaid Insurance for the month has expired Total Bank Accounts Accounts Receivable Accounts Receivable Total Accounts Receivable -1,080.00 1,200.00 -1,250.00 250.00 -250.00 $-1,130.00 20,800.00 $20,800.00 Other Current Assets Office Supplies Prepaid Insurance Work in Process Inventory Total Other Current Assets Total Current Assets 580.00 750.00 615.00 $1,945.00 $21,615.00 Fixed Assets Accumulated Depreciation - Truck Truck Total Fixed Assets TOTAL ASSETS -250.00 20,000.00 $19,750.00 $41,365.00 Other Current Assets Office Supplies Prepaid Insurance Work in Process Inventory Total Other Current Assets 580.00 750.00 615.00 $1,945.00 $21,615.00 Total Current Assets Fixed Assets Accumulated Depreciation - Truck Truck Total Fixed Assets -250.00 20,000.00 $19,750.00 $41,365.00 TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable Total Accounts Payable Other Current Liabilities Unearned Revenue Total Other Current Liabilities 11,360.00 $11,360.00 3,200.00 $3,200.00 Total Current Liabilities $14,560.00 $14,560.00 30,850.00 -2,000.00 Total Liabilities Equity Owner's Capital Owner's Withdrawals Retained Earnings Net Income Total Equity TOTAL LIABILITIES AND EQUITY -2,045.00 $26,805.00 $41,365.00 Profit and Loss March 27 - August 31, 2021 TOTAL Income Finished Goods Inventory Sales Sales Revenue Total Income -4,350.00 17,500.00 2,800.00 $15,950.00 Cost of Goods Sold Cost of Goods Sold Raw Materials Inventory Total Cost of Goods Sold 12,415.00 1,280.00 $13,695.00 GROSS PROFIT $2,255.00 Expenses Factory Overhead Office/General Administrative Expenses Salaries & Wages Wages Payable Total Expenses NET OPERATING INCOME 0.00 2,400.00 2,875.00 -875.00 $4,400.00 $ -2,145.00 $-2,145.00 NET INCOME Formula/Amounts Ratio Value Ratio Name Gross Profit Precentage Accounts Receivable turnover ratio Day's Sales in Receivables Debt Ratio Debt to Equity Ratio Profit Margin Ratio Rate of Return on Total Assets Asset Turnover Ratio

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