calculate the following: a. working capital b. current ratio c. Profit Margin ...
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Accounting
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:
Plants from paradise | ||
Owner`s equity | ||
December 31, 2021 | ||
(capital) |
| $111,854 |
Profit |
| $61,139 |
Total owner`s equity |
| $172,993 |
Balance Sheet:
Plants from paradise | ||
Balance sheet | ||
December 31, 2021 | ||
Assets | ||
Current Assets |
|
|
Cash |
| $12,200 |
Accounts receivable | $18,859 |
|
Allowance for doubtful accounts | $500 | $18,359 |
Interest receivable |
| $3,000 |
Inventory soil |
| $15,500 |
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 owner`s equity |
| $172,993 |
Total liabilities and owner`s equity |
| $210,559 |
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