Using the below account balances for Charlotte Corp., and in this order:
A - Prepare an Income Statement for the Year Ended Dec. 31, 2021 in proper format using Excel.
B - Calculate the ending retained earnings balance as of 12/31/21 (beginning retained earnings is given).
C - Prepare the Balance Sheet as of December 31, 2021 AND 2020 in good format using Excel.
	2021	2020
Accounts Payable	81,000	78,000
Accounts Receivable, net of uncollectible accounts	87,000	92,000
Additional Paid-in Capital	15,000	15,000
Automobiles	29,000	22,000
Building Improvements	62,000	48,000
Buildings	405,000	275,000
Cash	126,000	110,000
COGS	482,000
Common Stock $1 par, 400,000 shs authorized, 30,000 shs issued, 25,000 shs outstanding	30,000	30,000
Computer Equipment	18,000	17,000
Conferences & Travel Expense	9,000
Depreciation & Amortization Expense	12,000
Dividends Paid	10,000
General & Administrative Expense	150,000
Goodwill	115,000	115,000
Income Tax Expense	32,000
Insurance Expense	15,000
Interest Expense	12,000
Interest Income	14,000
Interest Payable	18,000	14,000
Land	120,000	120,000
Accumulated Amortization	-30,000	-28,000
Accumulated Depreciation	-118,000	-108,000
Long-Term Bonds Payable	190,000	119,000
Long-Term Note Payable	210,000	178,000
Merchandise Inventory	20,000	18,000
Net Sales	957,000
Patents	45,000	45,000
Preferred Stock	22,000	22,000
Prepaid Insurance	15,000	12,000
Production Equipment	43,000	39,000
Research & Development Expense	13,000
Retained Earnings	? (need to calculate)	190,000
Selling Expense	21,000
Short-Term Marketable Securities	18,000	15,000
Short-term Note Payable	142,000	156,000
Trademarks	16,000	16,000
Treasury Stock 5,000 shs	-5,000	-5,000
Utilities Expense	18,000
Wages Expense	131,000
Wages Payable	12,000	11,000
Once the financial statements are prepared, calculate the following ratios for 12/31/21 (show your work):
D - Gross Margin Ratio
E - Current Ratio
F - Working Capital Ratio
G - Acid-Test Ratio
H - Asset Turnover
I - Inventory Turnover
J - # Days' Sales in Accounts Receivable
K - # of Days' Sales in Inventory
L - ROI
M - ROE
N - Earnings per Share
O - Debt Ratio
P - Debt/Equity Ratio

\begin{tabular}{ll|ll} \hline 20211231 & 510,000 & 5190,000 & 20210101 \\ \hline & & $76,000 & 20211231 \\ \hline Balance & 5256,000 & & \\ \hline \end{tabular} Total Assets LIABILITIES \& STOCKHOLDERS' EQUITY Current Liabilities \begin{tabular}{ll|ll} \hline 20211231 & 510,000 & 5190,000 & 20210101 \\ \hline & & $76,000 & 20211231 \\ \hline Balance & 5256,000 & & \\ \hline \end{tabular} Total Assets LIABILITIES \& STOCKHOLDERS' EQUITY Current Liabilities