Question 9

These financial statement items are for Bramble Corporation for the year-end, July 31, 2018.

Salaries payable		$5,545
Salaries expense		51,850
Utilities expense		22,560
Equipment		32,460
Accounts payable		4,355
Service revenue		76,110
Rent revenue		8,490
Bank loan payable		3,527
Common shares, August 1, 2017		16,860
Cash		27,790
Accounts receivable		28,210
Accumulated depreciation-equipment		4,960
Dividends declared		4,160
Depreciation expense		3,890
Interest expense		100
Interest payable		100
Income tax expense		1,500
Retained earnings, August 1, 2017		38,433

Bramble issued $14,140 of common shares during the year.

A) Prepare an income statement for the year ended July 31, 2018.

B) Prepare a statement of changes in equity for the year ended July 31, 2018. (If an amount reduces the account balance then enter with negative sign e.g. -45 or parentheses e.g. (45).)

C) Prepare a classified statement of financial position at July 31, 2018. ( split into assets and liabilities and shareholders equity)

D) Calculate the current ratio and debt to total assets ratio. (Round answers to 1 decimal place, e.g. 25.5.)