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Required information [The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following

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Required information [The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 42,700 44,500 7,500 64,000 $ 9,000 14,600 10,000 80,000 45,100 $158,700 $158,700 During January 2021, the following transactions occur: January 2 Is Bue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $14,300. January 10 Purchase additional supplies on account, $4,900. January 12 Purchase 1,000 shares of treasury stock for $18 per share. January 15 Pay cash on accounts payable, $16,500. January 21 Provide services to customers for cash, $49, 100. January 22 Receive cash on accounts receivable, $16,600. January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Pinale Fireworks had 10,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 600 shares of treasury stock for $20 per share. January 31 Pay cash for salaries during January, $42,000. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January Choose Numerator Return on Equity Ratio Choose Denominator Return on Equity Ratio Return on equity a-2. If the average return on equity for the industry for January is 2.5%, is the company more or less profitable than other companies in the same industry? More profitable O Less profitable b. How many shares of common stock are outstanding as of January 31, 2021? Number of common stock outstanding c-1. Calculate earnings per share for the month of January. (Hint to calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) Earnings Per Share Choose Denominator Choose Numerator Earnings Per Share Earnings Per Share c-2. If earnings per share was $3.60 last year (ie, an average of $0.30 per month), is earnings per share for January 2021 better or worse than last year's average? Better Worse Required information [The following information applies to the questions displayed below.) On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 42,700 44,500 7,500 64,000 $ 9,000 14,600 10,000 80,000 45,100 $158,700 $158,700 During January 2021, the following transactions occur: January 2 Is Bue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $14,300. January 10 Purchase additional supplies on account, $4,900. January 12 Purchase 1,000 shares of treasury stock for $18 per share. January 15 Pay cash on accounts payable, $16,500. January 21 Provide services to customers for cash, $49, 100. January 22 Receive cash on accounts receivable, $16,600. January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Pinale Fireworks had 10,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 600 shares of treasury stock for $20 per share. January 31 Pay cash for salaries during January, $42,000. 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January 7. Analyze the following for Grand Finale Fireworks: a-1. Calculate the return on equity for the month of January Choose Numerator Return on Equity Ratio Choose Denominator Return on Equity Ratio Return on equity a-2. If the average return on equity for the industry for January is 2.5%, is the company more or less profitable than other companies in the same industry? More profitable O Less profitable b. How many shares of common stock are outstanding as of January 31, 2021? Number of common stock outstanding c-1. Calculate earnings per share for the month of January. (Hint to calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) Earnings Per Share Choose Denominator Choose Numerator Earnings Per Share Earnings Per Share c-2. If earnings per share was $3.60 last year (ie, an average of $0.30 per month), is earnings per share for January 2021 better or worse than last year's average? Better Worse

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