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