Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 2019 Credit $ Debit 24, Are 11,700 95.bee ACCOUNTS Cash Petty Cash Fund Notes Receivable, due 2020 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance $ 5.900 233,00 2.85e 1,41e 9,9ee 45, ese 177, eee 36, See 17,100 Se, See 19,400 24, see 11,700 20, 100 38,900 57e 60. See 16, See 455,960 125,98 243, eee 233.ee Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipment Accumulated Depreciation Office Equipment Notes Payable, due 2020 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-tere Charles Ronie, Capital (Jan. Charles Ronie, Drawing Income Sunsary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse wages Expense Warehouse Supplies Expense Depreciation Expense-warehouse Equipment Salaries Expanse Sales Travel and Entertainment Expense Delivery wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense 18. lee 766, cee 13,70e 198, .ee 5,78 255,200 21. be2 9. 3.se Prev 1 of 3 1 Nav mework S Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 126,900 243, eee 233, 1,683,899 18,180 1,570 766, Bee 13.ZAR 8, 340 11,860 198,620 7, eee 5,789 268, 200 21,48e 68,23e 9,789 70, see 3,9ee 6,1ee 9,190 6,420 58,500 5,5ee 5,700 8,90 3.ee 8. lee $2,637,0 52.637.ee Required: 1. Prepare a classified income statement for the year ended December 31, 2019. The expe expenses. selling expenses and general and administrative expenses. 2. Prepare a statement of owners equity for the year ended December 31, 2019. No additio period 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable exte Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Lo s roburns and forces art 1 Merchandisine Puch C Fran Dahvered cost duches Purchase and womens Punts Nulled out of purchase d Los Merchandise vertory, December 31, 2019 Cost of goods Gross proton Operating s Worsh Wars p expense DI Datos 1 Davored cost of purcha Puchoses rous and / wondes / / Purchases dents 11 Net daivered cost of purchase 1/17 Rotal merchandise available for 2019 Lese Merchandise ihvertory, Cost dosads sold Winghouse War les perso Depreciation and Warehouse equipment warehouse DOS Selling exceses Salas export Sales Travel and artertainment expense Delivery was Depression corso Delay Gume ponses General and admin S es expense Og OMOGOS notato Utilities Expanse Telephone Expanse Payroll Taxes Expansi Property Taxes Expanse Uncollectible Accounts Expo Depreciation Expanse Building Depreciation Expanse-Office Equipment Interest Expense Totals 32909 8.100 $2,637,49 $2,637.ee Required: 1. Prepare a classified income statement for the year ended December 31, 2019. The expense sa expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the yes: ended December 31, 2019. No additional Tv period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for Analyze What is the current rstio for this business! Complete this question by entering your answers in the tabs below. Hard Prepare a statement of owner's equity for the year anded December 31, 2019. No addition the period. BUPERIOR HAROWOOD COMPANY ner's Equity PETIT OTTI 3181 11 HII Prepare a dested balance sheet of December 31, 2019. The mortope payable atends to Acus Current als Natech Aurre LOS A ge or Merchandise intay Prepaid expenses Wareholes Orice supplies Prepaid in france TITULLI LLLLL acourts IIIIIIIIII 1111111 INT Totalcumentas Port and expert Land IIIIIIIIIIIIIIIIIIIII EL Les Actum deproton Warehouse comerte A d aprocation Dalvarm ent LOS A ta Oma omont Les Accumsan TITI standart Teos depresion equipment mont Acumulated depreciation OR DOLment LAB Accumulated depreciation Total plant and equipment Total assets Labatty and Owner's Equity Cumerstattesa Notas payable its Stas BAL and 2 ILI UL 2011 mong What is the current ato for this business? Complete this question by entering your answers in the tabby 19 Arquid 2 que a Anya What is the current ratio for this business? (Round your answer to 2 deomal plans.) ORICE Required 3 Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 2019 Debit 24,000 Credit $ 400 ACCOUNTS Cash Petty Cash Fund Notes Receivable. due 2020 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance 11,700 95,000 $ 5.900 233,000 2,850 1,410 9.900 45,000 177,000 53,400 36,500 17,100 50,500 19,400 24,500 Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment office Equipment Accumulated Depreciation office Equipment Notes Payable, due 2020 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-term Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Income Summary 11,700 20,100 38,900 570 60,500 16.500 455,960 126.900 243,000 233.000 Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. SUPERIOR HARDWOOD COMPANY Income Statement Operating revenue Sales 1.683.000 Less: Sales returns and allowances Net sales Cost of goods sold Merchandise inventory, January 1, 2019 Purchases Freight in Delivered cost of purchases Purchases returns and allowances Purchases discounts Net delivered cost of purchases Total merchandise available for sale Less: Merchandise inventory. December 31, 2019 Cost of goods sold Gross profit on sales Operating expenses Warehouse expenses bicenses Warehouse wages expense Warehouse supplies expense Depreciation expense-Warehouse equipment Prev 1 of 3 Next > Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 2019. Credit $ Debit 24,608 480 11.788 95,000 $ 5,90 233,888 2.850 1.418 9.900 45, 177,898 53,480 36, See 17,180 Se, see 24,500 19, 11,7ee 20.18 38,900 ACCOUNTS Cash Petty Cash Fund Notes Receivable, due 2020 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipment Accumulated Depreciation Office Equipment Notes Payable, due 2020 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-term Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense 60, see 16, See 455,950 126,900 243, eee 233eee 1,683,899 18,180 766,899 13,700 1,57e 8.340 11.050 198,6 7.000 5,200 268, 20e 21.488 68,230 9.788 20. See 3,900 Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 766,809 13.709 8.340 11,660 198,600 7. Bee 5,700 268, 200 21.400 60.239 9.789 79,500 3,900 6.199 9,190 6,420 58. See 5,500 5,700 8,909 3. 9ee 8. 109 $2,637,eee $2,637,899 Required: 1. Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 2 Required 2 Required 3 Required Analyze Analyze -- - ----- -- A -L Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the period. SUPERIOR HARDWOOD COMPANY Statement of Owner's Equity Charles Ronie. Capital, January 1, 2010 Net income for year Less: Withdrawals for year Increase in capital Charles Ronie, Capital, December 31, 2010 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than a year. SUPERIOR HARDWOOD COMPANY Balance Sheet Assets Current assets Cash Petty cash fund Notes receivable Accounts receivable Less: Allowance for doubtful accounts Merchandise inventory Prepaid expenses Warehouse Supplies Office supplies Prepaid insurance | Total current assets Plant and equipment Land Building Less: Accumulated depreciation Warehouse equipment Less: Accumulated depreciation Delivery equipment Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total plant and equipment Total assets Liability and Owner's Equity Warehouse Supplies Office supplies Prepaid insurance Total current assets Plant and equipment Land Building Less: Accumulated depreciation Warehouse equipment Less: Accumulated depreciation Delivery equipment Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total plant and equipment Total assets Liability and Owner's Equity Current liabilities Notes payable Accounts payable Interest payable Total current liabilities Long-term liabilities Mortgage payable Loans payable Total long term liabilities Total liabilities Owner's equity Charles Ronie. Capital Total liabilities and owner's equity Depreciation expense-Warehouse equipment Total Warehouse expenses Selling expenses Salaries expenseSales Travel and entertainment expense Delivery wages expense Depreciation expense-Delivery equipment SO Total selling expenses General and administrative expenses Salaries expense-Office Office supplies Insurance expense Utilities expense Telephone expense Payroll taxes expense Property taxes expense Uncollectible accounts expense Depreciation expense-Building Depreciation expense-Office equipment Total general and administrative exp. Total operating expenses Income from operations Other income Interest income Other expenses Interest expense Net nonoperating expenses Net income for year $ Warehouse supplies Office supplies Prepaid insurance Total current assets Plant and equipment | Land Building Less: Accumulated depreciation Warehouse equipment Less: Accumulated depreciation Delivery equipment Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total plant and equipment Total assets Liability and Owner's Equity Current liabilities Notes payable Accounts payable Interest payable S Total current liabilities Long-term liabilities Mortgage payable Loans payable Total long term liabilities Total liabilities Owner's equity Charles Ronie, Capital Total abilities and owner's equity Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 2019. Credit $ Debit 24,800 480 11,70 95,00 $ 5,9ee 233,000 2.850 1.418 9.900 45, cee 177,898 $3,400 36, See 17,180 se, see 24,50 19,4 11,78e 20.lee 38,900 ACCOUNTS Cash Petty Cash Fund Notes Receivable, due 2020 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipment Accumulated Depreciation Office Equipment Notes Payable, due 2020 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-term Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expens Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense 60, seg 16, See 455,950 126,900 243, eee 233, eee 1,683,880 18,100 766,899 13,700 1,570 8.340 11.050 198,6ee 7.000 5,200 268, 20e 21.488 68,230 9.788 70. See 3,900 Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 5,700 8. See 3.989 8,1ee 52.637, Bee 52.637, sec Required: 1. Prepare a classified Income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional Investments were made during the period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the current ratio for this business? (Round your answer to 2 decimal places.) Current ratio to 1