question4

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View Policies Current Attempt in Progress Swifty Architects Ltd. is a private company reporting under ASPE. It is authorized to issue an unlimited number of common and $3 cumulative preferred shares. The following is an alphabetical list of its adjusted accounts at March 31, 2021. its fiscal year end. All accounts have normal balances. Accounts payable Accounts receivable Accumulated depreciation equipment Cash Cash dividends-common Cash dividends--preferred Common shares Consulting revenue Depreciation expense Dividends payable Equipment $22.400 38.000 22.700 52.000 40,000 4,500 75,000 419.000 12,000 16,000 230,000 Income tax expense Insurance expense Interest expense Notes payable Preferred shares Prepaid expenses Rent expense Retained earnings Salaries expense Salaries payable Supplies expense $17.000 7,000 2,500 48,000 52.500 6.000 36.000 60,400 248.000 2,000 25.000 There are 1.500 preferred and 75,000 common shares issued. Prepare the statement of retained earnings. (List items that increase retained earnings first.) SWIFTY ARCHITECTS LTD. Statement of Retained Earnings $ List of Accounts Question Part Score Question Part Score Prepare the shareholders' equity section of the balance sheet SWIFTY ARCHITECTS LTD. Balance Sheet (Partial) V $ List of Accounts Question Part Score List of Accounts Question Part Score Calculate return on equity. Note: No shares were issued during the year. (Round answer to 2 decimal places, es 52.75) Return on equity %6 List of Accounts Question Part Score