Unadjusted Dates: Jan 31 to: Jan 31 Griffin Company Trial Balance January 31, 2017 Account Title Debit Credit Cash $ 15,400 11,400 7,500 2,700 64,000 28,800 Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation - Store equip. Accounts payable Common stock Retained earnings Dividends Sales 13,000 8,000 31,500 4,700 127,000 3,800 Sales discounts Sales returns and allowances 4,000 38,000 33,000 Cost of goods sold Salaries expense Rent expense Advertising expense Total 13,200 10,600 208,300 $ $ 208,300 General Ledger Multiple Sten IS Adjusted Dates: Jan 31 to: Jan 31 Griffin Company Trial Balance January 31, 2020 Account Title Debit Credit $ Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation - Store equip Accounts payable 15,400 11,400 5,000 1,000 64,000 35,200 13,000 8,000 Common stock 31,500 Retained earnings Dividends 4,700 Sales 127,000 3,800 4,000 38,000 6,400 Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense - Store equip. Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense 33,000 1,700 13,200 2,500 10,600 Store supplies expense Advertising expense Total 2,500 10,600 214,700 $ $ 214,700 GL0403 (Algo) - Based on Problem 4-5A LO C1, P3 The fiscal year-end unadjusted trial balance for Griffin Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Griffin Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2020, follow. a. Store supplies still available at fiscal year-end amount to $2,500. b. Expired insurance, an administrative expense, for the fiscal year is $1,700. c. Depreciation expense on store equipment, a selling expense, is $6,400 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,720 of inventory is still available at fiscal year-end. Requirement General Journal General Ledger Trial Balance Multiple Step IS Single Step IS Balance Sheet Ratios Compute the following ratios as of January 31, 2020. Round each ratio to 2 decimal places. Dates: Jan 31 to: Jan 31 Current ratio Acid-test ratio Gross margin ratio