The following account balances are available for The Clothing Outlet, Inc., a discount retailer, as of and for the year ended December 31, 2017. except for the retained earnings balance which is stated below as of January 1, 2017: Cash.. ..$5.500,000 Accounts receivable. $9,000,000 Marketable securities. ..$14,000,000 Prepaid insurance... $400,000 Inventory. .$4,000,000 Equipment.. .$7,000,000 Accumulated depreciation: equipment... $3,000,000 Buildings... $20,700,000 Accumulated depreciation buildings......$5,000,000 Land... $4,000,000 Investments (long-term). $4,000,000 Patents (net). $800,000 Accounts payable.. $5,000,000 Income taxes payable. $1,600,000 Salaries payable.. $1,000,000 Dividends payable..... $2,000,000 Interest payable...... ..$500,000 Notes payable (long-term). $2,400,000 Bonds payable (long term). $6,000,000 Common stock... $10,100,000 Retained Earnings (as of Jan. 1, 2017).$8,400,000 Dividends declared. $5,000,000 Sales.... $108,000,000 Cost of goods sold... $32,600,000 Interest revenue .$2,500,000 Interest expense. ..$1,500,000 Income tax expense......(calculated @ 40%) Selling expenses Sales salaries and commissions.... $6.000.000 Insurance expense... $1,600,000 Advertising expense.. $3,500,000 Utilities expense..... $4,000,000 Depreciation expenses equipment $400,000 Delivery expense... $500,000 General and administrative expenses: Executive and administrative salaries... $5,800,000 Utilities expense $4,200,000 Rental expenses $900,000 Depreciation expense: buildings.. $500,000 QUESTION 1 Based on the financial statements of The Clothing Outlet Inc., provide the company's total Working Capital at December 31, 2017 QUESTION 2 23 Based on the Income statement of The Clothing Outlet Inc., provide the total Gross Profit amount for the 12 month period ending December 31, 2017 QUESTION 3 2.761 Based on the income Statement of The Clothing Outlet in provide the total Operating Income for the 12- month period ending December 31, 2017 QUESTION 4 227892 Based on the Balance Sheet of The Clothing Outlet, Inc. calculate and provide the ending balance of Retained Earnings at December 31, 2017 QUESTION 5 2.79923 Based on the financial statements of the clothing Outlet in provide the company to Gross Prot Ratio founded to the nearest und die Gr 50 at December 31, 2017 Save All Arowers QUESTION 6 276028 pol Based on the financial statements of The Clothing Outlet Inc., provide the company's total Gross Proft Ratio rounded to the nearest hundredth (e. 90 or.50) at December 31, 2017 QUESTION 6 2.78023 point Based on the Balance Sheet for The Clothing Outlet Inc., calculate and provide Total Current Liabies at December 31, 2017 QUESTION 7 276923 points Based on the financial statements of The Clothing Outlet ind provide the company's total Current Ratio rounded to the nearest tenth at December 31, 2017 QUESTION 8 2.76923 points Based on the income statement of The Clothing Outlet to provide the total income Tax Expense amount fot the 12-month period ending December 31, 2017 QUESTION 9 2.76923 points Blood on the true stocent of The Clothing Outlet in provide the total Net Income for the 12 month periodding December 31, 2017 Cheers Save AA QUESTION 9 2.7002 points Based on the income statement of The Clothing Outlet Inc, provide the total Nint Income for the 12 month period ending December 31, 2017 QUESTION 10 2.7000 points Save AR Based on the income statement of The Clothing Outlet Inc. provide the income before Tex amount for the 12- month period ending December 31, 2017 QUESTION 11 2.70923 points Based on the woohoot for The Clothing the calculate and provide the Total Labs December 31, 2017 QUESTION 12 2.0 points Sowe Based on me of The Other company Our Acid Ratio Founded to the rest December 31, 2017 QUESTION 13 2.7000 points sed the teacher The One Calle de Tots 20. MA &
