The unadjusted trial balance for JKF Inc is provided below. A. Use the unadjusted trial balance, along with the notes provided below to prepare journal entries, to show the accounting treatment for each of the first seven items below (i.e. no need to write the adjusting entries for items 8 \& 9 . Items 8&9 are not accrual adjustments and should not be included in the adjusted TB). Use the journal entries to prepare the Adjusted Trial Balance. B. Use the adjusted Trial Balance and adjusting notes 8&9, to prepare a multi-step income statement, a statement of stockholders equity and la classified balance sheet. JKF Inc Unadjusted Trial Balance The following adjustments were provided 1. Fees of $50,000, received in advance during the year were erroneously recorded in Sales revenue. 2. $100,000 recorded as unearned service was earned during the year 3. Prepaid Insurance expired during the year $100,000. (Admin Expense) 4. Equipment is expected to last for 5 years. Salvage value is $200,000 5. Office salaries and wages earned but unrecorded and unpaid December 31,2015,$50,000. (Admin Expense) 6. A physical count of inventory on 12/31/2015 shows that $100,000 worth is remaining. 7. Provide a bad debt allowance of $100,000 8. Provide income taxes of 20% of income before taxes 9. Dividends of 100,000 was declared (but not paid) for the year. C. For JKF, compute the following ratios (use the definitions provided in the exam). 1. Operating Margin (Operating Income / Net Sales Revenue) 2. Sales Margin (Net Income / Net Sales Revenue) 3. Working Capital (Current Assets - Current Liabilities) 4. Current Ratio (Current Assets / Current Liabilities) 5. Quick Ratio ([Cash + Sht Term Inc +A/c Receivables] / Current Liabilities) 6. Debt to Equity ratio (Total Liabilities / Total Stockholders Equity) 7. Leverage (Total Liabilities / Total Assets) 8. ROA (NI / Tot Assets) D. Comment on the health of the firm based on the ratios you computed above (1 paragraph. This may be typed). The unadjusted trial balance for JKF Inc is provided below. A. Use the unadjusted trial balance, along with the notes provided below to prepare journal entries, to show the accounting treatment for each of the first seven items below (i.e. no need to write the adjusting entries for items 8 \& 9 . Items 8&9 are not accrual adjustments and should not be included in the adjusted TB). Use the journal entries to prepare the Adjusted Trial Balance. B. Use the adjusted Trial Balance and adjusting notes 8&9, to prepare a multi-step income statement, a statement of stockholders equity and la classified balance sheet. JKF Inc Unadjusted Trial Balance The following adjustments were provided 1. Fees of $50,000, received in advance during the year were erroneously recorded in Sales revenue. 2. $100,000 recorded as unearned service was earned during the year 3. Prepaid Insurance expired during the year $100,000. (Admin Expense) 4. Equipment is expected to last for 5 years. Salvage value is $200,000 5. Office salaries and wages earned but unrecorded and unpaid December 31,2015,$50,000. (Admin Expense) 6. A physical count of inventory on 12/31/2015 shows that $100,000 worth is remaining. 7. Provide a bad debt allowance of $100,000 8. Provide income taxes of 20% of income before taxes 9. Dividends of 100,000 was declared (but not paid) for the year. C. For JKF, compute the following ratios (use the definitions provided in the exam). 1. Operating Margin (Operating Income / Net Sales Revenue) 2. Sales Margin (Net Income / Net Sales Revenue) 3. Working Capital (Current Assets - Current Liabilities) 4. Current Ratio (Current Assets / Current Liabilities) 5. Quick Ratio ([Cash + Sht Term Inc +A/c Receivables] / Current Liabilities) 6. Debt to Equity ratio (Total Liabilities / Total Stockholders Equity) 7. Leverage (Total Liabilities / Total Assets) 8. ROA (NI / Tot Assets) D. Comment on the health of the firm based on the ratios you computed above (1 paragraph. This may be typed)