can you please check my calculations and if i missed anything. im a bid confussed on the ratio analysis, if you can double check that one too. thank you.

Overview. You just began a position as a financial accountant at Peyton Approved. In this role your first task is to prepare the company's financials for the year-end audit. Additionally, the company is interested in expanding its business within the next year. They would like your support in assessing their ability to meet their goals. Refer to the data below and use the Final Project Workbook that includes the income statement balance sheet, retained earning statement, and cash flow statement to complete the final project and associated milestone Peyton Approved Financial Data Preliminary financial statements have already been prepared 2017 statements in the Final Project Workbook). Final adjusting entries have not yet been made. See table for possible adjustments that indicate what will be recorded at 12/31/17 seal year end) Use the following to complete year to year documentation and notes for managing depreciation, Inventory, and long term debiti 1. A supplier shipped $3.000 of ingredients on 12/29/17. Peyton receives an invoice for 58,175-pood of $3.000 and freight of $175 dated 12/29/17 Boods were speed of supplier's warehouse 2. At 1/21/2eyton as $200 worth of merchandise on concermentat Bruno e of con 3. On 12/23/17, Peyton received 1,000 deput from Pet Globe for product to be shipped by Peytonin the second week of January 4 On 12/03/2017. a mixer with a cost of $2.000, accumulated depreciation $1,200, was destroyed fortif. As of 12/27/17, Insurance company has agreed to pay $700 in way. 2011. for codental destruction The company uses the following common ratios: Current Ratio Current Assets/Current Liabilities Quick Ratio Uquid Aises counts receive marketable secules/current Account Receivable Tumover Total Revenue/Average Accounts Receivable Inventory Turnover Total Cost of Goods Sold/Averagentory Gross Margin Gross Profit/Total Revenue Return on Sales Net Income Total Sales Return on Equity Net Income Total Equity Return of Assets Net Income/Total Assets The company is planning to open another location in 2018. Using the preliminary statements abrepare pro forma (bureted) financials for 2015 for the new location using the following information Cost of the commercial Space S1.500 per month Cost of new equipment: $15,000, Durchased with a long-term note. Use tine depreciation seven-year e, no residual value Usefull year's depreciation for the year. Coment purchase financed with a long-term not Cost of hiring and training new employees three at $25,000 each for the first year Cash $7,000. Accounts receivable amount to to turn accounts receivatumover will be 40 inventory amount to show 3.0 turns inventory turnover will be 3.0), Nostock will be issued. Retained ingreto equal net income. Additional andng of $5,000 will be long term Add remaining amount needed to balance into accounts payable Except as noted in 1, 2, and Sassets, current bites, sales, costs, and experts are expected to be Box the existing store from preliminary statements except no stock. Retained faming Net Income For notes to the financial statements and management analysis memo only consider the following Southern New Hampshire University Peyton Approved uses the following accounting practices Inventory Periodic LIFO for both baking and merchandise Equipment Straight line method used for equipment Business financing Information: Use this information to caterest rates and Insurance Information and to the impact on the company's financial obligation: The 5-year loan was made on June 1, 2016 Terms are 7.5 awrate interest only due date Insurance Annual policy covers 12 months, purchased in February, coverine March 2017 to February 2018 No monthly adjustments have been made PEYTON APPROVED TRIAL BALANCE As of December 31, 2017 Unadjusted trial balance Dr CH 67,520.04 68,519.91 Adjusting entries Dr Cr ref 1,000.00 700.00 3,000.00 15.506 70 1,238.07 200.00 200.00 2,114.55 2.114.56 170.40 14,000.00 2.000.00 1.606.44 1,200.00 1,000,00 3.175.00 Cash Account Receive Other Receivable Insurance Bang Supplies Merchandise Inventory Consignment Inventory Prepaid Rent Prepaid murance Mise Sales Baking Equipment Accumulated Depreciation Customer Deposit Accounts Payotte Wagen Payable Interest Payable Note Payable Common Stock Beginning Red carnings Dividends Bakery Sales Merchandise See Cost of Goods Sold-Baked Cost of Goods Sold - Merchandise Rort Expense Wagne Eerse Misc. Supplies Experise Business License Expense Misc. Experise Depreciation Experte Insurance Experise Advertising Expense Interest Expense Telephone Experise Gairloss on disposal of equipment 20.262.11 3.383.28 211.46 5.000.00 20.000,00 50,144.84 Adjusted frin balance Dr Cr 67,520.04 69,519.91 700,00 18,506,70 1.038 07 200.00 2114.56 2.114.50 170.49 12.000.00 406.44 1,000.00 23,437 11 3,383.28 211.40 5,000.00 20,000.00 50,144.84 105,000.00 321 322 55 1,205.84 105,834.29 860.77 24.149.19 10,670.72 3.000.40 2045.77 1.535 677.86 1,091.00 1,549.74 81831 490,93 100.00 432,1112 4.2.11132 105,000.00 327,322 55 1,205,64 105.83429 8577 24,549.19 10,670.72 3,000 46 2045.77 1.03.14 67786 1.091.08 1.549 74 810.31 4900 175.00 429,136.32 100.00 6.375 00 429,130,32 6.375.00 8 . Peyton Approved Balance Sheet As of December 31, 2017 Assets Liabilities and Owners Current Liabilities: Accounts Payable Wages Payable Interest Payable $1,000.00 23,437.11 3,383.28 211.46 Current Assets: Cash Accounts Recievable Baking Supplies Merchandise Inventory Consignment Inventory Prepaid Rent Prepaid Insurance Misc. Supplies 67,520.04 69,519.91 700.00 18,506.70 1,038.07 200.00 2,114.55 170.49 Total Current Assets 161884.31 Total Current Liabilities Long Term Liabilities Notes Payable Total Long Term Liabilities Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets 5,000.00 12,000.00 (406.44) 11593.56 Total Liabilities: Common Stock Retained Earnings 20,000.00 120446.02 Total Equity + Total Liabilities & Equity Total Assets: 173477.87 Revised Peyton Approved Income for Year Ended $327,322.55 1205.64 -100 Bakery Sales Merchandise Sales Loss on Disposal of Equipment Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit $328,428.19 $105,834.29 859.77 106,694.06 221,734.13 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Total Operating Expenses: 24,549.19 10,670.72 3,000.46 2,045.77 1,538.84 677.86 1,091.08 1,549.74 818.31 490.98 46,432.95 Net Income 175,301.18 Read Revised Peyton Approved Statement of Retained Earnings for Year Ended 12/31/2017 Beginning Balance: plus Net Income $ 50,144.84 175,301.18 less Dividends: Ending Balance 105,000.00 $ 120,446.02 Revised Peyton Approved Statement of Cash Flow for Year Ended 12/31/2017 Net Income Depreciation Expense $ 175,301.18 677.86 175,979.04 Increase in Accounts Receivable Increase in Baking Supplies Increase in Merchandise inventory Increase in Prepaid Rent Increase in Prepaid Insurance Increase in Misc. Supplies Increase in Accounts Payable Increase in Wages Payable Increase in Interest Payable (26,886.91) (11.187.84) (243.10) (449.55) (1,004.55) (114.99) 6,467.11 1,850.48 377.96 Operating Cash Flow 144,787.65 Cash Flow from Investments Equipment Purchases (4.000.00) Cash Flow from Investments 4,000.00 Cash Flow from Financing Repayment of Note Payable Dividends Paid (10,000.00) (105.000.00) Cash Flow from Financing - 115,000.00 Net Cash Flow 25,787.65 Beginning Cash 43,165.39 Ending Cash 67520.04 med Earnings 2017 Retained Earnings 2017 Revised Cash G H D EF Peyton Approved Balance Sheet As of December 31, 2015 Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable 15086.84 1118.83 121.53 31507.58 35118.97 8042.23 580.27 1215,32 810.21 40.51 77,315.09 Total Current Liabilities 16,327.20 1 2 3 4 5 Assets 6 Current Assets: 7 Cash 8 Accounts Receivable 9 Baking Supplies 10 Merchandise Inventory 11 Prepaid Rent 12 Prepaid Insurance 13 Misc. Supplies 14 15 16 Total Current Assets 17 18 19 Long Term/Fixed Assets: 20 Baking Equipment 21 Accumulated Deprecia 22 Net Fixed assets 23 24 25 26 27 28 29 Total Assets: 30 31 32 33 34 Long Term Liabilities: Notes Payable 10,000.00 Total Long Term Liabilities: 6000 -677.79 10,000.00 5,322.21 Total Liabilities: 26,327.20 Common Stock Retained Eamings 20,000.00 36.310.10 Total Equity 56,310.10 82,637.30 Total Liabilities & Equity 82,637.30 wwwmm c G A H D Peyton Approved Balance Sheet As of December 31, 2016 Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable 16,970.00 1,532.80 166.50 43,165.39 42,633.00 7,318.86 794.97 1,665.00 1,110.00 55.50 96,742.72 Total Current Liabilities 18,669.30 Assets Current Assets: Cash Accounts Receivable Baking Supplies Merchandise Inventory 1 Prepaid Rent 2 Prepaid Insurance 3 Misc. Supplies 4 5 6 Total Current Assets 7 8 19 Long Term/Fixed Assets: 20 Baking Equipment 21 Accumulated Depreciation 22 Net Fixed assets 23 24 25 26 27 28 29 Total Assets: 30 15,000.00 15,000.00 8,000.00 -928.58 Long Term Liabilities: Notes Payable Total Long Term Liabilities: Total Liabilities: Common Stock Retained Earnings 7,071.42 33,669.30 20,000.00 50,144.84 70,144.84 Total Equity + Total Liabilities & Equity 103,814.14 103,814.14 Peyton Approved Income Statement for Year Ended 12/31/2016 214,256.48 770.76 215,027.24 Bakery Sales Merchandise Sales Total Revenues Cost of Goods Sold - Baked Cost of Goods Sold - Merchandise Total Cost of Goods Sold Gross Profit 73,159.59 549.64 173.709.23 141,318.01 Operating Expenses: Rent Expense Wages Expense Misc. Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense Total Operating Expenses: 15,694.23 6,821.76 1,668.18 1,307.85 871.9 433.36 697.52 740.74 523.14 313.88 29,072.56 Net Income 112,245.45 ratio formulas. Peyton Approved Ratio Analysis 2017 2016 Current Ratio (Working Capital) 5.78 5.18 Quick Ratio 4.91 4.60 A/R Turnover 5.86 5.53 7.66 8.81 Inventory Turnover 66% 68% Gross Margin 48% Return on Sales 52% 83% 89% Return on Equity 68% 60% Return on Assets