Please see the attached file and help with questions 1 -4 thank you

Question 1 1 Philadelphia Widget Corporation is in the process of preparing financial statements for the year ended December 31, 2015 Philadelphia Widget Corporation Income Statement For the year ended December 31, 2015 Revenue $1,235,000 Cost of Goods Sold 806,356 Gross Profit $428,644 Administrative Expenses: Salaries Rent Depreciation Total Administrative Expense Operating Profit Gain on Sale of Equipment Interest Expense Net Income Cash Accounts Receivable $212,450 82,500 24,800 319,750 $108,894 4,500 -42,115 $71,279 Philadelphia Widget Corporation Comparative Balance Sheets December 31, 2015; 2014; and 2013 2015 2014 $119,411 $89,564 85,455 83,118 2013 $105,644 78,400 Inventory 41,600 48,560 62,600 Prepaid Expenses 14,500 18,100 24,000 260,966 239,342 270,644 50,000 50,000 50,000 Total Current Assets Land Buildings & Equipment $182,450 Accumulated Depreciation 78,900 Total Assets $172,450 103,550 62,600 $166,800 109,850 54,580 112,220 $414,516 $399,192 $432,864 $62,525 $51,480 $45,200 Wages Payable 4,500 4,500 1,500 Unearned Revenue 3,000 - - Current Portion of Long-Term Debt 50,000 50,000 50,000 Total Current Liabilities 120,025 105,980 96,700 Long-Term Debt 175,000 225,000 275,000 Accounts Payable Common Stock, 3,500 shares outstanding Retained Earnings $35,000 $35,000 $35,000 84,491 33,212 26,164 Total Stockholders' Equity Total Liabilities & Equity 119,491 68,212 61,164 $414,516 $399,192 $432,864 Instructions Prepare a Statement of Cash Flow using the indirect method for the 2015, using the above statements and the following ad 1. Equipment costing $30,000 was purchased in 2015. 2. Equipment having an original cost of $20,000 and accumulated depreciation of $8,500 was sold for $16,000 during 20 3. A dividend of $20,000 was declared and paid in 2015. nded December 31, 2015. They have completed the balance sheet and income statement as shown. ments and the following additional information: sold for $16,000 during 2015. Instructions Prepare a vertical analysis for the most recent year for Philadelphia Widget Corporation' income statement. Philadelphia Widget Corporation Vertical Analysis of Income Statement Revenue $1,235,000 ##.#% 806,356 ##.#% $428,644 ##.#% 212,450 82,500 ##.#% ##.#% 24,800 ##.#% Total Administr ative Expense 319,750 ##.#% Operating Profit $108,894 ##.#% Gain on Sale of Equipmen t 4,500 ##.#% -42,115 ##.#% $71,279 ##.#% Cost of Goods Sold Gross Profit Administr ative Expenses: Salaries Rent Depreciati on Interest Expense Net Income me statement. Philadelphia Widget Corporation is in the process of preparing financial statements for the year ended December 31, 2015 Philadelphia Widget Corporation Income Statement For the year ended December 31, 2015 Revenue $1,235,000 Cost of Goods Sold 806,356 Gross Profit $428,644 Administrative Expenses: Salaries Rent Depreciation Total Administrative Expense Operating Profit Gain on Sale of Equipment Interest Expense Net Income Cash $212,450 82,500 24,800 319,750 $108,894 4,500 -42,115 $71,279 Philadelphia Widget Corporation Comparative Balance Sheets December 31, 2015; 2014; and 2013 2015 2014 $119,411 $89,564 2013 $105,644 Accounts Receivable 85,455 83,118 78,400 Inventory 41,600 48,560 62,600 Prepaid Expenses Total Current Assets Land Buildings & Equipment Accumulated Depreciation 14,500 18,100 24,000 260,966 239,342 270,644 50,000 50,000 50,000 $182,450 78,900 Total Assets $172,450 103,550 62,600 $166,800 109,850 54,580 112,220 $414,516 $399,192 $432,864 $62,525 $51,480 $45,200 Wages Payable 4,500 4,500 1,500 Unearned Revenue 3,000 - - Current Portion of Long-Term Debt 50,000 50,000 50,000 Total Current Liabilities 120,025 105,980 96,700 Long-Term Debt 175,000 225,000 275,000 Accounts Payable Common Stock, 3,500 shares outstanding Retained Earnings $35,000 $35,000 $35,000 84,491 33,212 26,164 Total Stockholders' Equity Total Liabilities & Equity 119,491 68,212 61,164 $414,516 $399,192 $432,864 Instructions Calculate the following ratios based on 12/31/2015 numbers: 1. Earnings per share 2. Return on common stockholders' equity 3. Return on assets 4. Current ratio 5. Acid-test ratio 6. Accounts receivable turnover nded December 31, 2015. They have completed the balance sheet and income statement as shown. Prepare a horizontal analysis the two most recent years of Philadelphia Widget Corporation's balance sheets. Philadelphia Widget CorporationHorizontal Analysis of Balance Sheet Cash 2015 $119,411 2014 2013 ##.#% $89,564 ##.#% $105,644 Accounts Receivable 85,455 ##.#% 83,118 ##.#% 78,400 Inventory 41,600 ##.#% 48,560 ##.#% 62,600 Prepaid Expenses 14,500 ##.#% 18,100 ##.#% 24,000 Total Current $260,966 Assets ##.#% $239,342 ##.#% $270,644 Land 50,000 ##.#% 50,000 ##.#% 50,000 103,550 ##.#% 109,850 ##.#% 112,220 Buildings & Equipment, net Total Assets $414,516 ##.#% $399,192 ##.#% $432,864 Accounts Payable ##.#% $51,480 ##.#% $45,200 $62,525 Wages Payable 4,500 ##.#% 4,500 ##.#% 1,500 Unearned Revenue 3,000 - - - - Current Portion of Long-Term Debt 50,000 ##.#% 50,000 ##.#% 50,000 Total Current $120,025 Liabilities ##.#% $105,980 ##.#% $96,700 Long-Term Debt 175,000 ##.#% 225,000 ##.#% 275,000 Common Stock 35,000 ##.#% 35,000 ##.#% 35,000 Retained Earnings 84,491 ##.#% 33,212 ##.#% 26,164 Total Liabilities & Equity $414,516 ##.#% $399,192 ##.#% $432,864 's balance sheets