Question

Drinkwater Inc. reported the following information:


Other information:
1. No shares were issued during the years ended March 31, 2014 and 2013.
2. No dividends were declared or paid during the years ended March 31, 2014 and 2013.
3. The market values per common share at March 31, 2014, and March 31, 2013, were $29 and $25 respectively.
4. Industry averages for 2014 were as provided in the chart on the following page.

Required
1. Using the information provided for Drinkwater Inc., prepare a comparative, single-step income statement and statement of changes in equity for the years ended March 31, 2014 and 2013, as well as a comparative classified balance sheet at March 31, 2014 and 2013.
2. Complete the chart below for Drinkwater Inc. (round all ratios to two decimalplaces):


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  • CreatedJanuary 08, 2015
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