Question: Liner Company has the following adjusted trial balance at December

Liner Company has the following adjusted trial balance at December 31, 2014. No dividends were declared; however, 400 additional shares were issued during the year for $ 2,000:
Required:
1. Prepare a statement of earnings in good form for 2014. Include earnings per share.
2. Prepare closing entries and post the effects to the appropriate ledger accounts.
3. Prepare a statement of financial position in good form at December 31, 2014.
4. Compute Liner Company’s net profit margin ratio and return on equity for the year. What do these ratios mean?


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  • CreatedAugust 04, 2015
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