calculate the following:
a. working capital
b. current ratio
c. Profit Margin
d. Receivable turnover ratio
e. Asset Turnover Ratio
f. Return on Assets
Income Statement:
Plants from paradise
Income statement
Year ended December 31, 2021
Revenues
Plants
$167,894
Soil
$45,673
Delivery
$12,345
$225,912
Less: Cost of Goods Sold
$106,784
Gross Profit
$119,128
Operating Expenses
Utilities expenses
$2,275
Salaries expenses
$29,154
Depreciation expense
$15,500
Repairs expense
$3,700
Bad debit expense
$4,500
Interest expense
$2,860
Total Operating Expenses
$57,989
Profit/Loss
$61,139
Statement of Owners Equity:
Owner`s equity
December 31, 2021
(capital)
$111,854
Profit
Total owner`s equity
$172,993
Balance Sheet:
Balance sheet
Assets
Current Assets
Cash
$12,200
Accounts receivable
$18,859
Allowance for doubtful accounts
$500
$18,359
Interest receivable
$3,000
Inventory soil
Inventory plants
$12,500
Total Current Assets
$61,559
Property, plant and equipment
Building
$145,000
Accumulated depreciation (building)
$22,000
$123,000
Equipment
$45,500
Accumulated depreciation (equipment)
$19,500
$26,000
Total Assets
$210,559
Liabilities and Owners Equity
Current Liabilities
Accounts payable
$19,576
Salaries payable
$7,875
Interest payable
$515
Unearned revenue
$7,600
Line of credit
$2,000
Total Current Liabilities
$37,566
Total liabilities and owner`s equity
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
(Save $1 )
One time Pay
(Save $5 )
Billed Monthly
*First month only
You can see the logs in the Dashboard.