$ $ 42,180 15,930 120,000 $ $ $ 24,000 19,700 5,000 111,970 $ $ Accounts Receivable - Net of AFDA Inventory Equipment Equipment - Accumulated Amortization Accounts Payable Share Capital Retained Earnings Dividends paid Sales revenue Cost of goods sold Amortization Expense Utility Expenses Rent Expense Wage Expense $ 2,500 $ 171,980 $ $ $ 76,650 12,000 2,460 1,800 35,400 $ $ $ 332,650 $ 332,650 Requirements: 1 Prepare the multi-step income statement, statement of retained earnings and balance sheet (using the classified method) for the year-ending September 30, 2021. Marks Available: 9 2 Calculate the gross profit percentage to one decimal point. Marks Available: 1 3 If opening inventory was $13,940, calculate the inventory turnover for 2021. Round to the nearest single decimal point Marks Available: 1
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