The Business OCTETT This practice set is designed in tem parts. The first part provides a review of the financial statements of Spartan Cases, which sells aluminum cases "Spartan Cases Inc's" primary operation is the sale of cases to an-ne suitomers and retailers in the market. Each student will prepare a financial Analysis and Statement of Cash Flow for the company in the second part, "Spartan Cases, inc, decides to start producing the cases and selling them directly on the Intemit and to customers All cases of academic dishonests will be reported to the Office of Student Ule Part One Instructions ACCOUNTING POCIETY The financial information for the pet te s 31 and 2021 ispred Satan Cases collection axis 20 for their reables and the handmek for the itentncxxdog spreadsheet plcation Mineo face, and the fumtion from the war wide the following 1 Prep Statement of Cach rows for the sumat year i 2 Using honontal analys, prepare a Comparative Balance Sheet cs, prepare a comparative Statement of inco thing the textbook, calculate the ratio set out below Working Capital 2011,2012 b Comet Ratio-2021 2022 Quick Ratio-2021 2022 Accounts Receivable 2002 Number of Days Sales in Number of Days Sales-2022 Return on Total A2022 Rate of Liables to tacholder Couty-2021 2022 Return on Stockholders Equity 2022 Earrings Per Share 2001, 2022 The Snancial statements provided in this practice set can be downloaded from backboard Read the instructions aided before downloading Download the Excel fies oe Buckbeant Income Statement Stacholders Equity and trance Sheet) and add a columna csulate the rats for the 5 Acting as an accounting adviar to the fum, prepare a men which you analys the fina statements priced in stapt and three and along with the ratios that have been calculated above and prepare an analysis of the company's financial position Identity two strengths and two weaknesses in the company Make two recommendations to improve the company's financial position. Se specific in each of the recommendations and we all of the short ratios to support your analps. The length should be ne more than one paragraph Print out your memo and use it to amwer the questions in Blackbound Part of the INTELI to to the Wing Center for hele. You will receive from the wing.certer when we attend that will turn in with the lament Only the waiting action of De asement will be turned in with the mat. All the halations and will be stane In Blackbeard Makers vodenot have manuten.mars 21 PARE ACCOUNTING OCIETY 6. Blackboard Instructions a. Once in Blackboard you will retype the memo that you have written using all the ratios analyzing the strengths and weaknesses of the company. Make sure there are no spelling, grammatical, or punctuation errors. b. Answer additional questions that use numbers into Blackboard as specified below: c. When the answer is in units enter the number as is (See example below) 1280 d. When the answer is for ratios (i.e. Days) and has a decimal take the decimal out to one decimal place. Round to one decimal. (See example below) 280.9 days e. When ratios are in times take out to one decimal place (See example below) i. 280.9 times f. When the answer is in dollars ALWAYS include a dollar sign and cents even if the cents is zero add .00 (See example below) I. $280.00 or $280.30 Please follow all instructions. If the answers are formatted incorrectly the answer will be counted wrong. ONEINOY SOCIETY Page Comparative Balance Sheet em that ACCOUNTING SOCIETY of the company Make sure there are no have wren using at the rates he number as is (See example below); uben Backbeard as specified below mland has a decimal take the decimal out Set congle below edcme plex dee example below nude far sign and cents even if the san fomuned incomety the Spartan Cases Inc. Comparative Balance Sheet December 31, 2021 and 2022 ACCOUNTINU SOCIETY Assets 2022 2021 Cument Assets Cash 5 883,700 $ 266,200 Accounts Recervati S 220.000 150.000 Merchandise Inventory $ 40,000 S 30.000 Prepaid Rere 5 50.000 5 20.000 Total Current Assets 1,395,700 S 514.200 Property, Plant, and Equipment Equipment Less Accumulated Depreciation Equipment Total Property, Pont indument Total Assets $ 340,000 15.000) 1 270,000 S 120.000) 4,000 5 1,481,700 $ 5 210.000 766,200 5 Page " 2001 ca LALL 201 OCTERF ACCOUNTING For the Yan Ended Dember 1 261 and 1300000 2025 $1.300306 450000 Labe 158300 40.000 1000 LIVE 1000 1 11630 4500 15,000 324200 TIPPAN ACCOUNTING OCIETY Comparative Statement of Betained Earnings Retained Earnings, Beginning of Year Net income Les Dividends Retained Earnings, End of Year Spartan Cases Inc. Comparative Statement of Retained Earnings For the Years Ended December 31, 2021 and 2022 2022 $ 426,200 $ 549,500 $180,000 $795,700 2021 $ 200,000 5 326,200 $ 100,000 5 426,200 1. Equipment with a cost of $24,000 on which depreciation has been recorded was sold for cash. Equipment was purchased using cash and a long-term note payable. 2. Stock was issued for cash. 3. Dividends were paid in cash 8|Page