Mon. Sep 26th, 2022

Biology homework help. The following items are taken from the financial statements of Grove Company for 2017:          Accounts payable                                           $18,500          Accounts receivable                                            8,000          Accumulated depreciation-equipment             4,800          Bonds payable                                                  18,000          Cash                                                                   24,000          Common stock                                                  25,000          Cost of goods sold                                            27,000          Depreciation expense                                         4,800          Dividends                                                           5,300          Equipment                                                         44,000          Interest expense                                                  2,500          Patents                                                                 7,500          Retained earnings, January 1                          16,000          Salaries and wages expense                              5,200          Sales revenue                                                    50,500          Supplies                                                               4,500Instructions(a) Prepare an income statement and a classified balance sheet for Grove Company.(b)    Compute the following ratios and values:1. Current ratio2. Debt to assets ratio3. Working capital4. Earnings per share (Grove’s average number of shares outstanding during the year was 5,000.)

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