R&B Electrical began operations on 1/1/2017. Their annual reporting period ends 12/31. The trial balance on 1/1/2019 follows:

Transaction during 2019:

2019. $15,000 cash was borrowed on a five-year 8% note payable, dated 3/1/2019.
2020. $13,000 cash was paid for land.
2021. Earned $215,000 in sales revenues for 2019. $52,000 on account and the remainder in cash.
2022. Issued 4,000 additional shares of common stock for cash at $1 per share on 1/1/2019.
2023. Incurred $114,000 in miscellaneous expenses for 2019, $20,000 on credit and the rest paid in cash.
2024. Collected $34,000 owned on account.
2025. Purchased materials with $15,000 cash.
2026. Purchased $27,000 supplies on account.
2027. Paid $26,000 accounts payable.
2028. Signed a $12,000 one-year service contract for work to begin on 2/1/2020.
2029. Declared and paid $25,000 in cash dividends.

Adjusting entries:

2019. $18,000 in supplies remained on 12/31/2019.
2020. $10,000 depreciation on equipment.
2021. Interest accrued on notes payable in step a.
2022. $16,000 in wages earned but will not be paid until 1/3/2020.
2023. $11,000 in income taxes for 2019 will be paid in 2020.
2024. $2,000 was written off during the year.
2025. $2,000 of A/R is estimated to be uncollectable. Hint: The AfUA has a $1,000 debit balance after the write-offs

Here is the adjusted balance, income statement and balance sheet

REQUIRES:

1. Prepare the statement of cash flows, and statement of stockholders equity in the correct order.
2. Journalize and post the closing entries.
3. Compute the following ratios for 2019 and briefly explain what they suggest about the company (round to 2 decimals).
   1. Current ratio
   2. Net profit margin
   3. Total asset turnover

Thank you

Account title Debit Credit Cash 6,000 Accounts receivable 6,000 Allowance for uncollectable accounts 1,000 Supplies 13,000 Materials 7,000 Equipment 78,000 Accumulated Depreciation 8,000 Land Accounts payable Wages payable Interest payable Income taxes payable Long-term notes payable Common stock (8,000 shares, $0.50 4,000 par value Additional paid-in capital 80,000 Retained earnings 17,000 Service revenue Wages expense Supplies expense Bad debt expense Interest expense Depreciation expense Income tax expense Misc. expenses Totals 110,000 110,000 Cash Account receivable Allowance for Uncollectable accounts Supplies Materials Equipments Accumulated Depraration Land Account pawable I wages payable Interest payable Incomes taxes payable Long-term note payable . common stock Additional pendio.capital 49000 22000 2000 18000 22000 5001 LOW ..13000 24000 16010 WINDO OOO le tained earnings service Rev Wages expenses Supplies expences Bad Debt expenses GOOD 82000 17000 215000 16000 22000 50.00 1000 10000 111000 0. 257000 Interest expenses. Depreciation expense Miss Expense Income tax expense Dividends Total 404000 40 4000 INCOME STATEMENT 215000. Service Rev. Expence.. Wages Expenses Supplies Exponses Interest Expenses. Depreciation Expenses. Bad Debt Expenses Income tax Expenses Misc Expenses Total Expenses.. Total Net income (16000). (22000.) (2000.). C10000). (5000) (44000) (114000) (17900u) 36000 BALANCE SHEET Liabilities, Current Liabilities. Account Payable Wages Payable Interest payable Income tax payable.. total current mobiles 21000 16000 2000 1000 49000 Assets... Current Assets. Cash... 4,9000 Account Rec 22000 Allowance forut (2000) Materials 22000 Supplies 48.000 Total current assets. A09000 Long.derm.asset. Equipment. 78.000 Land 13.00.0 Accumulated. Dep. (A9.000.). Total long term assets 73000 Long term habikties. Long term note payable Total liabilities 15000 6.40.00 Strok holder equity Commonstock Additional Pardin Capital Total paus.com.com Total liabilities & equity. 600.0 82000 90000 28000 $182000 Retained cannigs Total Assets $482000