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The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31 . 2021,

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The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31 . 2021, follows. Accumulated depreciation-computer equipment Kitchen equipment 29,000(600)3,600 Accumulated depreciation-kitchen equipment Total assets (2,050)$155,46626,950 Liabilities and Stockholders' Equity Current liabilities Accounts payable Income tax payable Dividends payable $5,848 Salaries and wages payable 19,690 Interest payable Note payable-current portion 4000$32,676 Long-term liabilities Note payable-loong-term portion Total liabilities 38,6766,000 Total liabilities 38,676 Stockholders' equity Paid-in capital Preferred stock, 2,800 shares issued and outstanding Common stock, 25,930 shares issued, 25,180 outstanding Retained earnings Total paid-in capital and retained earnings COOKIE 9 COFFEE CREATIONS INC. Income Statement Year Ended October 31, 2021 Sales revenue $462,500 Additional information: Additional information: Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more kitchen equipment. The loan would be repaid over a 4 -year period. The terms of the loan provide for equal semiannual installment payments of $2,500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance. 8. Asset turnover 9. Return on assets 10. Return on common stockholders' equity

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