Yellowjacket Resources Inc.s December 31 incomplete balance sheet information follows along with additional information: Required 1. Prepare

Question:

Yellowjacket Resources Inc.€™s December 31 incomplete information follows along with additional information:

Yellowjacket Resources Inc.€™s December 31 incomplete balance sheet information follows

Required
1. Prepare a three-year comparative balance sheet for Yellowjacket Resources Inc.
2. To evaluate the company€™s profitability, calculate the ratios for each year shown in the following schedule and determine whether the change was favourable orunfavorable.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...