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Please help 5. The following information came from the adjusted trial balance of PCC Corp. for the year 2019. You will use this information to
Please help 5. The following information came from the adjusted trial balance of PCC Corp. for the year 2019. You will use this information to answer the questions (A, B, C, D) below, including the calculation of the ratios listed in #6. DO NOT SUBMIT THE FINANCIALS. USE THEM TO ANSWER THE QUESTIONS IN #5 AND #6. This is PCC's first year in business. Their fiscal year ends December 31" Accounts Payable Accounts Receivable Supplies Income Taxes Expense Accum Depreciation, Office Equipment Allowance for Bad Debts 2,200 11,700 3,000 300 1,500 2,500 Dividends 5,000 Bad Debt Expense 1,700 Supplies Expense 800 COGS 12,000 Income Taxes Payable 600 Land 6,800 Office Equipment 20,000 Salaries Expense 7,800 Utilities Expense 550 Common Stock 22,500 Unearned Revenue 2,400 Prepaid Insurance 1,300 5,550 45,500 Cash Sales Revenue Depreciation Expense, Office Equipment 700 A. What is net income for the year? B. What are total liabilities? C. What is the ending retained earnings at December 31, 2019? D. What are total assets? 6. Using the information from the financials in #5, calculate the following: A. Net Accounts Receivable M B. Debt to Assets? C. Working Capital D. Gross profit rate pour ODO SILA
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