Provide the answers for Financial Statements step-by-step in details ASAP, please!

_ofust 31 , complete the financial statements. 1) Prepare a multistep income statement. 2) Prepare a calculation of retained earnings 3) Prepare a classified balance sheet. Assume that $22,560 of the bank loan will be paid off in the 12 months. Based on the information above, answer the following questions. a) Calculate the current ratio as at August 31, 2023. b) Does Goulet Inc. have a good or bad current ratio? Explain why or why not. c) Calculate the inventory days on hand ratio as at August 31, 2023. (Since this is for the month, do not multiply by 365 in the formula. Instead multiply by 31 days.) d) Last month, the inventory days on hand ratio was 7 days. Has the ratio improved? Why or why not? e) Calculate the debt to equity ratio as at August 31, 2023. f) Calculate the gross profit margin as at August 31, 2023. g) Last month, the gross profit margin percentage was 63%. What could have caused this decrease in gross margin percentage? h) Calculate the inventory turnover as at August 31, 2023. i) If inventory turnover last month was 4.43 is the company holding on to inventory for a longer or shorter period of time? _ofust 31 , complete the financial statements. 1) Prepare a multistep income statement. 2) Prepare a calculation of retained earnings 3) Prepare a classified balance sheet. Assume that $22,560 of the bank loan will be paid off in the 12 months. Based on the information above, answer the following questions. a) Calculate the current ratio as at August 31, 2023. b) Does Goulet Inc. have a good or bad current ratio? Explain why or why not. c) Calculate the inventory days on hand ratio as at August 31, 2023. (Since this is for the month, do not multiply by 365 in the formula. Instead multiply by 31 days.) d) Last month, the inventory days on hand ratio was 7 days. Has the ratio improved? Why or why not? e) Calculate the debt to equity ratio as at August 31, 2023. f) Calculate the gross profit margin as at August 31, 2023. g) Last month, the gross profit margin percentage was 63%. What could have caused this decrease in gross margin percentage? h) Calculate the inventory turnover as at August 31, 2023. i) If inventory turnover last month was 4.43 is the company holding on to inventory for a longer or shorter period of time