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. 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 Comparison: Evaluate the financials 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. V12 VA A 26 Wrap Text BIU- F Merge & Center $ . % Insert Delete Format at Painter Conditional Formatas Cell Formatting Table Styles Styles Font Alignment Number Cells f B E F G H Peyton Approved Balance Sheet As of December 31, 2017 Assets Current Assets: Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Office Supplies Accounts Receivable Total Current Assets 64,713.72 27,850.00 25,750.00 7,500.00 2,000.00 250.00 30,401.00 Liabilities and Owners' Equity Current Liabilities: Accounts Payable 27,325.00 Wages Payable 5,700,00 Interest Payable 1,518.75 Total Current Liabilities 34,543.75 + 158,464.72 Long Term Liabilities: Notes Payable Loans Payable Total Long Term Liabilities: Total Liabilities: 10,000.00 21,000.00 31,000.00 65,543.75 Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation 17,000.00 5,928 58 Common Stock Retained Earnings 30,000.00 82,292.39 11.071.42 Leasehold Improvements Accumulated Amortization 112,292,39 10,000.00 4,000.00 Total Equity 6,000.00 Trademark 2,300.00 177,836.14 Total Assets 177,836.14 Total Liabilities & Equity 2017 2016 2015 Industry Standard 2.2 2.8 1.75 0.55 0.7 0.7 Quick Ratio Gross Margin Net Margin Return on Equity 0.22 0.32 0.24 0.9 0.78 0.8 U Peyton Approved Statement of Retained Earnings For Year Ending 12/31/2017 Beginning Balance: plus Net Income less Dividends: Ending Balance: 102,292.39 20,000.00 82,292.39 + Peyton Approved Closing Entries For Year Ending 12/31/2017 Credit Date Accounts 31-Dec Bakery Sales Merchandise Sales Income Summary Debit 335,675.00 35,200.00 370,875.00 268,182.61 31-Dec Income Summary Baking Cost of Goods Sold Rent Expense Interest Expense Insurance Expense Depreciation Expense Amortization Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense 15,760.00 137,400.00 90,000.00 1,518.75 2,642.86 2,000.00 2,780.00 1,350.00 375.00 5,200.00 5 700 na A D B Wages Expense Telephone Expense Merchandise Cost of Goods Sold (FIFO) 31 Dec Income Summary Retained Earnings E 5,700.00 3,456.00 10269239 102,692.39 31-Dec Retained Earnings Dividends 20,000.00 20,000.00 + 761,750.00 761,750.00 D G Peyton Approved Income Statement For Year Ending 12/31/2017 Bakery Sales Merchandise Sales Total Revenues Merchandise Cost of Goods Sold (FIFO) Baking Cost of Goods Sold Gross Profit $335,675.00 $ 35,200.00 370,875.00 15,760.00 137,400.00 217,715.00 Operating Expenses Rent Expense Interest Expense Insurance Expense Depreciation Expense Amortization Expense Misc. Efense Office Supplies Expense Business License Expense Income Statement Closing Entries 90,000.00 1,518.75 400.00 2,642.86 2,000.00 2,780.00 1,350.00 375.00 Statement of Retained Earnings Balance Sheet Financial ... board Font Alignment Nu =SUM(E15:E25) B D F Business License Expense Advertising Expense Wages Expense Telephone Expensional Total Operating Expenses: E 375.00 5,200.00 5,700.00 _3,456.00 115,422.61 Net Income 102,292.39 Clipboard Font Alignment 23 ... A B D E F Peyton Approved Adjusting Journal Entries 2017 Debit Credit Date Accounts 31-Dec Depreciation Expense Accumulated depreciation 642.86 31-Dec Amortization Expense Accumulated Amortization 0 642.86 1 2 600.00 31-Dec Interest Expense Interest Payable 13 600.00 14 15 400.00 31-Dec Insurance Expense Prepaid Insurance 400.00 16 17 18 137,400.00 31-Dec Baking cost of Goods Sold Baking Supplies 19 137,400.00 F D B E 137,400.00 Baking Supplies 1,350.00 31-Dec Office Supplies Expense Office Supplied 1.350.00 5,700.00 31-Dec Wages Expense Wages Payable 5,700.00 146,092.86 146,092.86