This is intermediate II need help with all of this please answer all of the question in all of the tabs. Thank you

22-1 Change in accounting principle In 2015, Fischer Corporation changed its method of inventory pricing from LIFO to FIFO. Net income computed on a LIFO as compared to a FIFO basis for the four years involved is: (Ignore income taxes.) LIFO FIFO 2012 78,200 85,700 2013 84,500 88,100 2014 87,000 91,400 2015 92,500 92,700 Instructions a) Indicate the net income that would be shown on comparative financial statements issued at 12/31/15 for each of the four years, assuming that the company changed to the FIFO method in 2015. 2012 2013 2014 2015 Net Income b) Assume that the company had switched from the average cost method to the FIFO method with net income on an average cost basis for the four years as follows: 2012, $80,400; 2013, $86,120; 2014, $90,300; and 2015, $93,600. Indicate the net income that would be shown on comparative financial statements issued at 12/31/15 for each of the four years under these conditions. 2012 2013 2014 2015 Net Income c) Assuming that the company switched from the FIFO to the LIFO method, what would be the net income reported on comparative financial statements issued at 12/31/15 for 2012, 2013, and 2014? 2012 Net Income 2013 2014 2015 22-2 Effects of errors Show how the following independent errors will affect net income on the Income Statement and the stockholders' equity section of the Balance Sheet using the symbol + (plus) for overstated, - (minus) for understated, and 0 (zero) for no effect. 2014 Income Statement 1) Ending inventory in 2014 overstated. 2) Failed to accrue 2014 interest revenue 3) A capital expenditure for factory equipment (useful life, 5 years) was erroneously charged to Maintenance Expense in 2014. 4) Failed to count office supplies on hand at 12/31/14. Cash expenditures have been charged to Supplies Expense during the year 2014. 5) Failed to accrue 2014 wages. 6) Ending inventory in 2014 understated. 7) Overstated 2014 depreciation expense; 2015 expense correct. 2015 Balance Sheet Income Statement Balance Sheet Chapter 22-3 Accounting for changes and error corrections. Dyke Company's net incomes for the past three years are presented below: 2016 2015 $450,000 $480,000 2014 $360,000 During the 2016 year-end audit, the following items come to your attention: 1 Dyke bought equipment on January 1, 2013 for $392,000 with a $32,000 estimated salvage value and a six-year life. The company debited an expense account and credited cash on the purchase date for the entire cost of the asset. (Straight-line method) 2 During 2016, Dyke changed from the straight-line method of depreciating its cement plant to the double-declining balance method. The following computations present depreciation on both bases: 2016 2015 2014 Straight-line 36,000 36,000 36,000 Double-declining 46,080 57,600 72,000 The net income for 2016 was computed using the double-declining balance method, on the January 1, 2016 book value, over the useful life remaining at that time. The depreciation recorded in 2016 was $72,000. 3 Dyke, in reviewing its provision for uncollectibles during 2014, has determined that 1% is the appropriate amount of bad debt expense to be charged to operations. The company had used 1/2 of 1% as its rate in 2015 and 2016 when the expense had been $18,000 and $12,000, respectively. The company recorded bad debt expense under the new rate for 2016. The company would have recorded $6,000 less of bad debt expense on December 31, 2016 under the old rate. Instructions (a) Prepare in general journal form the entry necessary to correct the books for the transaction in part 1 of this problem, assuming that the books have not been closed for the current year. (b) Compute the net income to be reported each year 2014 through 2016. (c) Assume that the beginning retained earnings balance (unadjusted) for 2014 was $1,260,000. At what adjusted amount should this beginning retained earnings balance for 2014 be stated, assuming that comparative financial statements were prepared? (d) Assume that the beginning retained earnings balance (unadjusted) for 2016 is $1,800,000 and that non-comparative financial statements are prepared. At what adjusted amount should this beginning retained earnings balance be stated? Ch 23-1 Statement of cash flows (direct and indirect methods). Hartman, Inc. has prepared the following comparative balance sheets for 2014 and 2015: 2015 2014 Cash 292,000 153,000 Accounts receivable 149,000 117,000 Inventory 150,000 180,000 18,000 27,000 1,275,000 1,050,000 (450,000) (375,000) 153,000 174,000 1,587,000 1,326,000 Accounts payable 153,000 168,000 Accrued liabilities 60,000 42,000 Mortgage payable - 450,000 Preferred stock 525,000 - Additional paid-in capitalpreferred 120,000 - Common stock 600,000 ### Retained earnings 129,000 66,000 1,587,000 1,326,000 Prepaid expenses Plant assets Accumulated depreciation Patent 1 The Accumulated Depreciation account has been credited only for the depreciation expense for the period. 2 The Retained Earnings account has been charged for dividends of $148,000 and credited for the net income for the year. The income statement for 2015 is as follows: Cost of sales Sales revenue 1,980,000 Cost of sales Gross profit 1,089,000 Gross profit Operating expenses 891,000 Net income Operating expenses 680,000 Net income 211,000 Instructions (a) From the information above, prepare a statement of cash flows (indirect method) for Hartman, Inc. for the year ended December 31, 2015. (b) From the information above, prepare a schedule of cash provided by operating activities using the direct method. Chapter 24 Financial statement analysis. The condensed financial statements of Marks Company for the years 2014-2015 are presented below: Marks Company Comparative Balance Sheets As of December 31, 2014 and 2015 2015 420,000 360,000 380,000 1,800,000 (260,000) 2,700,000 340,000 400,000 1,520,000 440,000 2,700,000 Cash Accounts receivable (net) Inventories Plant and equipment Accumulated depreciation Accounts payable Dividends payable Bonds payable Common stock ($10 par) Retained earnings 2014 120,000 300,000 340,000 1,112,000 (192,000) 1,680,000 160,000 40,000 1,200,000 280,000 1,680,000 Additional data: Market value of stock at 12/31/15 is $80 per share. Marks sold 32,000 shares of common stock at par on July 1, 2015. Marks Company Condensed Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit Administrative and selling expenses Net income 2,400,000 1,650,000 750,000 500,000 250,000 Instructions Compute the following financial ratios by placing the proper amounts in the parentheses provided for numerators and denominators. Ratio Computation: a. Current ratio at 12/31/15 b. Acid test ratio at 12/31/15 c. Accounts receivable turnover in 2015 d. Inventory turnover in 2015 e. Profit margin on sales in 2015 f. Earnings per share in 2015 g. Return on common stock equity in 2015 h. Price earnings ratio at 12/31/15 i. Debt to assets at 12/31/15 j. Book value per share at 12/31/15 Ratio formula in words