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The following is a list of accounts for Solodia Company: Accounts Payable 1,589 Accounts Receivable 2,589 Accumulated Depreciation 23,565 Additional Paid in Capital 96,320 Advertising

The following is a list of accounts for Solodia Company:

Accounts Payable 1,589
Accounts Receivable 2,589
Accumulated Depreciation 23,565
Additional Paid in Capital 96,320
Advertising Expense 18,562
Buildings 117,646
Cash 6,039
Common Stock 25,896
Cost of Goods Sold 123,562
Depreciation Expense 2,336
Equipment 29,187
Income Tax Expense 7,852
Income Tax Payable 4,852
Insurance Expense 8,521
Interest Expense 5,851
Interest Revenue 1,112
Inventory 6,559
Notes Payable 18,657
Notes Receivable 18,962
Other accrued liabilities 2,396
Retained Earnings 8,523
Salaries and Wages Expense 23,585
Salaries and Wages Payable 4,785
Sales Revenue 215,821
Short-term Investments 2,211
Supplies 8,620
Supplies Expense 3,256
Unearned Revenue 5,230
Utilities Expense 9,632
Other Information:
Total Assets Previous Year $ 142,515
Outstanding Shares Previous year 246,149
Outstanding Shares Current year 258,960

Required:

Use the list of accounts to:

  1. Prepare a Multiple Step Income Statement in good form. Note: Maintain the order in which the accounts appear in the list.
  2. Prepare a Classified Balance Sheet. Note: Maintain Current Assets and Current Liabilities in order of liquidity.
  3. Compute Return on Assets rounded to one decimal place.
  4. Compute Earnings per Share rounded to the nearest cent.

Navigation:image text in transcribedimage text in transcribedimage text in transcribed

\begin{tabular}{ll} \hline \multicolumn{2}{c|}{ Solodia Company } \\ \hline Aalance Sheet \\ \hline Assets & Norrent Assets: \\ \hline \end{tabular} \begin{tabular}{|l|c|} \hline \multicolumn{2}{|c|}{ Solodia Company } \\ \hline For the year ended December 31, 20XX \\ \hline Operating Expenses: \\ Notal Operating Expenses \\ Nonoperating Income and Expenses: \\ \hline \end{tabular}

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