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The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows: LARGE COMPANY, INC. Trial Balance December 31,

The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows:

LARGE COMPANY, INC.

Trial Balance

December 31, 2022

Cash...............................................................................

$19,000

Prepaid Insurance...............................................................................

2,600

Supplies ...............................................................................

5,100

Equipment ...............................................................................

22,500

Accumulated DepreciationEquipment...............................................................................

$ 5,000

Retained Earnings ...............................................................................

19,000

Interest Income..

1,000

Revenue...............................................................................

37,000

Salaries Expense...............................................................................

28,300

Rent Expense ...............................................................................

21,000

______

Additional information:

Expired insurance, $600.

Inventory, $800.

Depreciation, $1,000.

Unpaid salaries, $700

Amortization, $3,500

Trademark Cost 1/1/ $2,000 sold 7/1 for $5,000 5 year life

Payroll $1,700 Payroll Tax due $326.00

Accrued Vacation $300.00

Got at 1000,000 Loan paid 1,000 in interest

Sale that was not recorded for $3,000 on credit

Required

Prepare adjusting entries.

Prepare adjusted Trial Balance and Balance Sheet

Prepare an Income Statement

Prepare a Retained Earnings Statement

Prepare closing entries.

Prepare a post-closing trial balance.

What is the Debt to Asset ratio

What is the Current Ratio

What is the Acid Test Ratio

What is the Gross Profit Percentage

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