The following items are taken from the financial statements of Maroon Company for 2020:

Accounts payable
$ 10,000

Accounts receivable
11,000

Accumulated depreciation—equipment
38,000

Advertising expense
21,000

Cash
14,000

Common stock
90,000

Depreciation expense
12,000

Dividends
15,000

Equipment
210,000

Insurance expense
3,000

Notes payable (due 2023)
70,000

Prepaid insurance
6,000

Rent expense
17,000

Retained earnings (beginning)
12,000

Salaries and wages expense
34,000

Salaries and wages payable
3,000

Service revenue
130,000

Supplies
4,000

Supplies expense
6,000

Required

A.Prepare in good form an Income statement

B.Prepare in good form a Statement of retained earnings

C.Prepare a Classified balance sheet for Maroon Company at December 31, 2020, assuming the note payable is a long-term liability

D.Compute the current ratio, debt to assets ratio, and earnings per share value. The average number of shares outstanding for 2020 was 10,000
 

36 TIM MA x + Amm e U-A-XX A-de-A -K*QR-X-15-Aalbcc AaltCc Aabo 6017 SIBE O A Cah Question 1 (17 mark) The following items are taken from the financial statements of Heroon Company for 2020: Acconc Aparte de ent Ange CSK Dewanpree Dand Egomar HRIN Propel Re 200 atarsal. Sears and was Saares and was Saverse Baston EI e Et D QUE 200 1000 11,000 30000 21,000 10000 0100 12 000 5000 210000 3.000 100 16.000 17.000 12.000 34.000 100 130 Required Prepare in good farm an Income statement b) Prapere in good form a Statement of retained saming El Prepare a Classifed balance sheet for Maroon Company at December 31, 2020, assuming the nots payable is a long-term labilty Compute the current rabo, debt to assets rabo, and eanings per share value. The average number of shares utstanding for 2020 was 10,000 A HEIN- 4006 (000 201 a SCOMP BIT AUSNIN Gome- & om CAR