the following unadjusted trial balance is pfinancial year end for rex company

PS-3A Preparing adjusting entries and income statements and compating gross margin, acid-test and current ratios The following unadjusted trial balance is prepared at financial year end for Rex Company REX COMPANY Unadjusted Trial Balance January 31, 2015 Debit Credit $ 2,200 1,500 4,800 2,300 41,900 Prepaid inaurance -Store 15,000 9,000 32,000 Accounts payeble T, Rex, Capital 0 T Rex. ithdrawals 2,000 1 Sdes 2 Sales dscounts 13 Salos returns and alowancos 14 Cost of goods sold is Depreciation expensc-Store equipment 104,000 1,000 2,000 37 400 16 Salarles expanse 17 Insurance expense 18 Ront oxpenoo 19 Store supplies experiso 20 Advertising expense 31,000 14,000 9,900 $160,000 21 Totals $160,000 Rent expense and salaries expense are equally divided between selling activities and the gereral and administrative activities. Rex Company uses a perpetual inventory system Required 1. Pepatusies emsryho eleteahf a. Shore suppies still vailable at financial year ead amount to $1.650 b. Expired insurance, an administrative expense, for the firancial year is $1.500 c. Depreciasion expense en store equipeneut, a selling expense. is 51,400 for the finincial year d. To estimate shrinkage, a pbysical ount of ending merchandise inventory is takrn. It shows SIL100 of inventory 15 stillavailable at financial year-ead - 2. Prepare an income statemepifor financial year 2015. 3. Compute the current ratio, acid-test ratio, and gross margin ratio as at January 31, 2015