L 7 8 9 F28 11 www. 13 14 N 1 2 3 Write your evaluation...

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L 7 8 9 F28 11 www. 13 14 N 1 2 3 Write your evaluation in the text box below: 4 15 16 17 18 1 20 21 23 24 25 26 27 28 29 30 31 32 33 34 36 PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Ready 13 x F A Unadjusted Trial Balance Income Statement Type here to search B Statement of Retained Earnings O e Balance Sheet g Enable Editi Evaluation x E ment%20%20(2).pdf 9 1 / 2 100%: The final assignment is based on the following information. Sugar Rush, Inc. opens its first ice cream store in Calgary in January 2023. It prepares quarterly financial statements for its owners and external stakeholders. Below is the unadjusted trial balance of Sugar Rush at the end of the 2nd quarter of its first year of operation (April 1- June 30, 2023). Cash Accounts Receivable Prepaid Rent Equipment Trademark Accounts Payable Deferred Revenue Loan Payable (Long-term) Fundamentals of Financial Accounting Term October 2023 Final Assignment-Part 2 (30%) Instructor: Lilibeth Montera Sales Revenue Cost of ingredients Salaries and Wages Utilities Expense Rent Expenses TOTAL Common Stock Retained Earnings, April 1, 2023 Dividends Sugar Rush Inc. Unadjusted Trial Balance At June 30, 2023 $ $ $ acer S S S $ 2) A statement of retained earnings (4 points); 3) Balance Sheet (12 points), 17,000.00 600.00 7.300.00 9,700.00 9,700.00 300.00 4,500.00 3,200.00 700.00 600.00 53,600.00 $ 10,800.00 $ 400.00 $ 20,000.00 $ 10,000.00 1,100.00 $ 11,300.00 Required: Based on the unadjusted trial balance of Sugar Rush, Inc. above, you are required to prepare/write the following: 1) An income statement (8 points). $ 53,600.00 4) A paragraph stating your evaluation of the company's performance and financial status for the quarter ending June 30, 2023. (6 points) In your evaluation, state whether: the business is profitable; it is able to pay its current obligations/liabilities; and its assets are financed more by debts or equity. You may state any other insights you have on the company's financial statements. Justify your evaluation and support your discussion with relevant calculations or ratios. Submission Instruction: (1) Prepare all the requirements on the Excel Workbook provided. L 7 8 9 F28 11 www. 13 14 N 1 2 3 Write your evaluation in the text box below: 4 15 16 17 18 1 20 21 23 24 25 26 27 28 29 30 31 32 33 34 36 PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Ready 13 x F A Unadjusted Trial Balance Income Statement Type here to search B Statement of Retained Earnings O e Balance Sheet g Enable Editi Evaluation x E ment%20%20(2).pdf 9 1 / 2 100%: The final assignment is based on the following information. Sugar Rush, Inc. opens its first ice cream store in Calgary in January 2023. It prepares quarterly financial statements for its owners and external stakeholders. Below is the unadjusted trial balance of Sugar Rush at the end of the 2nd quarter of its first year of operation (April 1- June 30, 2023). Cash Accounts Receivable Prepaid Rent Equipment Trademark Accounts Payable Deferred Revenue Loan Payable (Long-term) Fundamentals of Financial Accounting Term October 2023 Final Assignment-Part 2 (30%) Instructor: Lilibeth Montera Sales Revenue Cost of ingredients Salaries and Wages Utilities Expense Rent Expenses TOTAL Common Stock Retained Earnings, April 1, 2023 Dividends Sugar Rush Inc. Unadjusted Trial Balance At June 30, 2023 $ $ $ acer S S S $ 2) A statement of retained earnings (4 points); 3) Balance Sheet (12 points), 17,000.00 600.00 7.300.00 9,700.00 9,700.00 300.00 4,500.00 3,200.00 700.00 600.00 53,600.00 $ 10,800.00 $ 400.00 $ 20,000.00 $ 10,000.00 1,100.00 $ 11,300.00 Required: Based on the unadjusted trial balance of Sugar Rush, Inc. above, you are required to prepare/write the following: 1) An income statement (8 points). $ 53,600.00 4) A paragraph stating your evaluation of the company's performance and financial status for the quarter ending June 30, 2023. (6 points) In your evaluation, state whether: the business is profitable; it is able to pay its current obligations/liabilities; and its assets are financed more by debts or equity. You may state any other insights you have on the company's financial statements. Justify your evaluation and support your discussion with relevant calculations or ratios. Submission Instruction: (1) Prepare all the requirements on the Excel Workbook provided.