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please show me all the work please show me all the work Prepare financial statements and evaluate debt-paying ability P3-55 The adjusted trial balance of
please show me all the work
please show me all the work
Prepare financial statements and evaluate debt-paying ability P3-55 The adjusted trial balance of Reid and Campbell Ltd. at December 31, 2017, appears below. B D 4 Reid and Campbell Ltd. 1 Adjusted Trial Balance December 31, 2017 2 Cash 3 Accounts receivable Prepaid rent 5 Store furnishings 6 Accumulated depreciation 7 Accounts payable 8 Deposits 9 Interest payable 10 Salary payable 11 Income tax payable 12 Note payable 13 Share capital 14 Retained earnings, Dec 31, 2016 15 Dividends 16 Sales 17 Depreciation expense 18 Salary expense 19 Rent expense 20 Interest expense 21 Income tax expense 22 Total 23 $ 11,600 41.400 1,300 67,600 $ 12.900 3,600 4,500 2,100 900 8.800 26,200 12.000 20,300 48,000 165,900 11,300 14.000 12.000 1,200 18.800 $ 257 2005 257,200 Requirements a. Prepare Reid and Campbell Ltd.'s 2017 income statement, statement of retained earnings, and balance sheet. List expenses in decreasing order on the income statement and show total liabilities on the balance sheet. Draw arrows linking the three financial statements. b. Compute Reid and Campbell Ltd.'s debt ratio at December 31, 2017, rounding to two decimal places. Evaluate the company's debt ratio as strong or weak Step by Step Solution
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