Please provide the computations of the Financial Analysis for 2017

PEYTON APPROVED INCOME STATEMENT For the Year-ended December 31, 2017 Particulars Amount Amount Revenues Bakery Sales 335,675.00 Merchandise Sales 35,200.00 370,875.00 Less: Direct Cost Merchandise Cost of goods sold 15,760.00 Baking cost of goods Sold 137,400.00 153,160.00 Gross Profit 217,715.00 Less: Operating Expenses Rent Expense 90,000.00 Interest Expense 1,518.75 Insurance Expense 400 Depreciation Expense 2,642.86 Amortization Expense 2,000.00 Misc. Expense 2,780.00 Office Supplies Expense 1,350.00 Business Liciense Expense 375 Advertising Expense 5,200.00 Wages Expense 5,700.00 Telephone Expense 3,456.00 115,422.61 Net Income 102,292.39 PEYTON APPROVED Statement of retained earnings For the Year Ended 12/31/2017 Beginning Balance (+) Net Income $ 102,292.39 Less: Dividends 20,000.00 Ending Balance $ 82,292.39PEYTON APPROVED ADJUSTED TRAIL BALANCE: December 31, 2017 Unadjusted Trailbalance Adjustment entries Adjusted Trailbalance Particulars Debit Credit Debit Cash S Credit Debit Credit 64,713.72 $ 64,713.72 Baking Supplies 165,250.00 S 137,400.00 27,850.00 Merchandise Inventory 25,750.00 25,750.00 Prepaid Rent 7,500.00 7,500.00 Prepaid Insurance 2,400.00 400.00 2,000.00 Baking Equipment 17,000.00 17,000.00 Accumulated Depreciation 3,285.72 2,642.86 S 5,928.58 Leasehold Improvements 10,000.00 10,000.00 Accumulated Amortization 2,000.00 2,000.00 4,000.00 Trademark 2,300.00 2,300.00 Office Supplies 1,600.00 1,350.00 250.00 Accounts Receivable 30,401.00 30,401.00 Notes Payable 10,000.00 Interest Payable 10,000.00 1,518.75 Accounts Payable 1,518.75 27,325.00 |Wages Payable 27,325.00 5,700.00 Loans Payable 5,700.00 21,000.00 Common Stock 21,000.00 30,000.00 30,000.00 Dividends 20,000.00 20,000.00 Bakery Sales 335,675.00 Merchandise Sales 335,675.00 35,200.00 Baking Cost of goods Sold 35,200.00 137,400.00 137,400.00 Rent Expense 90,000.00 90,000.00 Interest Expense 1,518.75 1,518.75 Insurance Expense 400.00 400.00 Depreciation Expense 2,642.86 2,642.86 Amortization Expense 2,000.00 2,000.00 Misc. Expense 2,780.00 2,780.00 Office Supplies Expense 1,350.00 1,350.00 Business Liciense Expense 375.00 375.00 Advertising Expense 5,200.00 Wages Expense 5,200.00 5,700.00 5,700.00 Telephone Expense 3,456.00 Merchandise COGS (FIFO) 3,456.00 15,760.00 15,760.00 Total 464,485.72 $ 464,485.72 $ 151,011.61 $ 151,011.61 $ 476,347.33 $ 476,347.33PEYTON APPROVED Closing Entries 31st Dec 2017 Date Accounts Debit Credit 31st Dec 2017 Bakery Sales 335,675.00 Merchandise Sales 35,200.00 Income Summary 370,875.00 31st Dec 2017 Income Summary A/c 268,582.61 Merchandise Cost of goods sold 15,760.00 Baking cost of goods Sold 137,400.00 Rent Expense 90,000.00 Interest Expense 1,518.75 Insurance Expense 400.00 Depreciation Expense 2,642.86 Amortization Expense 2,000.00 Misc. Expense 2,780.00 Office Supplies Expense 1,350.00 Business Liciense Expense 375.00 Advertising Expense 5,200.00 Wages Expense 5,700.00 Telephone Expense 3,456.00 31st Dec 2017 Income Summary A/c 102,292.39 Retained Earnings 102,292.39 31st Dec 2017 Retained Earning A/c Dr 20,000.00 Dividends 20,000.00Overview: In your final project, you will assume the role of an accountant and complete the year-end adjustment process for your company using a provided workbook. This workbook is the first deliverable (Part I) of your final project. In Part II, you will analyze the provided financials of the same company and create a report documenting your findings. For your third milestone, you will complete a draft of your ratio analysis report so that you can gain feedback and improve your work prior to the final submission in Module Eight. Note that you do not need feedback from Milestone Two to successfully complete this assignment. You should use the provided Final Proiect Part II template to structure your submission. Prompt: Specifically, the following critical elements must be addressed: |. Abstract: Summarize the story of profitability and liquidity for your company. In other words, highlight the most important aspects of your report, including your major conclusions. ll. Computations: Identify and describe your computations from the Financial Analysis tab of your workbook. Be sure to format your key results in a table or graphical format, as appropriate. Explain why each cited figure was included in your report in terms of its importance for the organization. Ill. Comparison: Evaluate the nancials of the company by comparing current ratios to both historical and industry-average ratios. Clearly identify all unexpected or aberrant figures. IV. Conclusion: Draw informed conclusions based on your computations and comparisons in the previous paragraphs. Be sure to justify your claims with specific evidence and examples. PEYTON APPROVED ADJUSTING JOURNAL ENTRIES: December 31, 2017 Date Accounts Debit Credit 31st Dec 2017 Baking Cost of Goods Sold A/c Dr 137,400.00 Baking Supplies 137,400.00 31st Dec 2017 Depreciation Expense A/c Dr 642.86 Accumulated Depreciation A/c 642.86 31st Dec 2017 Depreciation Expense A/c Dr 1,000.00 Accumulated Depreciation A/c 1,000.00 31st Dec 2017 Amortization Expense A/c Dr 2,000.00 Accumulated Depreciation A/c 2,000.00 31st Dec 2017 Office Supplies Cost of Goods Sold A/c Dr 1,350.00 Office Supplies Supplies 1,350.00 31st Dec 2017 Wages Expense A/c 5,700.00 Wages Payable 5,700.00 31st Dec 2017 Interest Expense A/c 600 Interest Payable 600 31st Dec 2017 Interest Expense A/c(21000x7.5%*7/12 918.75 Interest Payable 918.75 31st Dec 2017 Insurance Expense A/c (2400/12*2) 400 Prepaid Insurance A/c 400PEYTON APPROVED Balance Sheet As of December 31, 2017 Assets Amount Amount Liabilitys and Owners Equity Amount Amount Current Assets: Current Liabilitys: Cash 64,713.72 Accounts Payable 27,325.00 Baking Supplies 27,850.00 Wages Payable 5,700.00 Merchandise Inventory(FIFO) 25,750.00 Interest Payable 1,518.75 Prepaid Rent 7,500.00 Total Current Liabilitys 34,543.75 Prepaid Insurance 2,000.00 Office Supplies 250 Long Term Liabilitys: Accounts Receivable 30,401.00 Notes Payable 10,000.00 Total Current Assets 158,464.72 Loans Payable 21,000.00 Total Long Term Liabilitys 31,000.00 Total Liabilitys 65,543.75 Long Term/ Fixed Assets: Baking Equipment 17,000.00 Accumulated Depreciation (5,928.58) 11,071.42 Common Stock 30,000.00 Retained Earnings 82,292.39 Leasehold Improvements 10,000.00 Total Equity 112,292.39 Accumulated Amortization (4,000.00) 6,000.00 Trademark 2,300.00 Total Assets 177,836.14 Total Liabilitys & Equity 177,836.142017 2016 2015 Industry Standard Quick Ratio 2.2 2.8 1.75 Gross Margin 0.55 0.7 0.7 Net Margin 0.22 0.32 0.24 Return on Equity 0.9 0.78 0.8