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.)

Don't use plagiarized sources. Get Your Custom Essay on
Biology homework help
Just from $13/Page
Order Essay

By ravi

Leave a Reply

Your email address will not be published.