The following ratios are for Company X and Company Y for the year ending 2022: Current ratio Working capital Debt to Total Assets Basic EPS Price-earnings ratio Company X 1.4:1 $40,000 80.4% $6.00 1.5 Company Y 2.5:1 $150,000 55.6% $8.00 1.9 Instructions Based on the above ratios provide an explanation and comparison of each company's liquidity, solvency, and profitability. Use the answer space below to record your response. Make use of the following ratio sheet if needed: ACCT1106 - Ratio Sheet.pdf QUESTION 36 16 points Save Answer Emery Trust Inc. issued $100,000, a 5-year bond on January 1, 2022 paying 4% interest on a semi-annual basis every January 1 and July 1. Instructions Using a financial calculator, prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method, a market interest rate of 6% and has a year-end of December 31, 2022. (16 mks) Please use the spreadsheet provided to complete your work. Paste the link in the response area below. You will need to use the following present value tables in calculating the issue price of Emery's bond: PV factors for an annuity.pdf PV factors for lump-sum payment.pdf Answer Worksheet - Emery Trust 10 points Save Answer Paulson Corporation purchased equipment on January 1, 2020 for $168,000. It is estimated that the equipment will have a $14,000 residual value at the end of its 8-year useful life. It is also estimated that the equipment will produce 110,000 units over its 8-year life. On December 31, 2022, Paulson sells the equipment for $85,000. Paulson produced 20,000 units in 2020, 24,000 units in 2021 and 22,000 units in 2022. Instructions (a) Determine the carrying amount of the equipment at December 31, 2022 using the units-of-production method of depreciation. (b) Prepare the appropriate journal entry for the sale of the equipment. Please use the spreadsheet provided to complete your work. Paste the link in the response area below. Answer Worksheet - Paulson Corporation w Pacific Supply Corporation uses a periodic inventory system. During September, the following transactions occurred: Sep 3 6 Purchased 36 backpacks at $25 each from Scott Limited, terms 2/10, n/30. Received credit of $100 for the return of 4 backpacks purchased on Sept. 3 that were defective. Sold 20 backpacks for $45 each to Macklin Books n/30. Paid Scott account in full. 9 13 Instructions Prepare journal entries to record the above transactions. Please use the spreadsheet provided to complete your work. Paste the link in the response area below. Answer Worksheet - Pacific Supply Corporation