SPI-CC Inc. has the following information for the year ended April 30, 2021: SPI-CC Inc. April 30, 2021 Accounts Receivable Customer ABC DT Total 0-30 31-60 61-90 91+ $ 159,250 $ 132,000 $ 15,600 $ 10,900 $ 750 $ 38,700 $ 32,700 $ 1,500 $ 1,400 $ 3,100 $ 72,550 $ 39,800 $ 14,250 $ 17,000 $ 1,500 $ 42,100 $ 32,100 $ 10,000 $ $ Forta Zync Report Totals $ 312,600 236,600 $ 41,350 $ 29,300 $ 5,350 The CFO has determined that the following percentages of receivables to default: 0-30 .015 31-60 .020 61-90 .09 Allnetare teme all answers The following is the incomplete Statement of Earnings for April 30, 2021, and comparative for 2020 and 2019: SPI-CC Inc. April 30, 2021 Statement of Earings 2021 2020 2019 Net Sales $ 1,507,819 $ 1,425,761 $ 1,375,891 COGS 981.000 $ 905,000 $ 885,000 Gross Profit Operating Expenses 427,891 $ 411,560 $ 399,871 Operating Income Other Income $ 5.100 (3.200) $ 4,200 Net Income Net AR 312,600 $ 297,850 $ 288,751 Required: 1. Calculate the adjustments for allowance for doubtful accounts. (4 marks) www.lne. Question Completion Status: VOLPI UTZ,00 20.000 200, Required: 1. Calculate the adjustments for allowance for doubtful accounts. (4 marks) 2. If the preadjustment balance for doubtful accounts before the $9,400 write off was a debit $750, calculate bad debt expense. Prepare the proper entry for bad debt expense. (6 marks) 3. The CFO has just hired a student from ACCT 1510 to complete the statement provided above and do the following analysis. (20 marks) [HINT: Complete the missing information from the chart first] a. Gross Profit Margin b) Net Profit Margin C. AR turnover d. Average Collection Period e. Provide some quick analysis on the ratios you calculated. Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers Save and Question Completion Status: Forta Zync $ 72,550 $ $ 42,100 $ 39,800 $ 14.250 $ 17.000 $ 1.500 32.100 $10,000 $ $ Report Totals $312,600 $ 236,600 $ 41,350 $ 29,300 $ 5,350 The CFO has determined that the following percentages of receivables to default: 0-30 015 31-60 020 61-90 09 91+ -10 The following is the incomplete Statement of Earnings for April 30, 2021, and comparative for 2 SPI-CC Inc Apr 30, 2021 Statement of Earnings 2021 2020 2019 Click Save and submit to be and Click Save alla 1000F21 OUTU.docx Research Paper.docx SLO 23 go $ 4 & 7 3 5 0) 6 8 9 W E R R T Y S D F G H J K