8 January 29 Dividends Dividends Payable 3.600 3.600 9 January 30 Cash 15,400 Treasury Stock 14,000...

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8 January 29 Dividends Dividends Payable 3.600 3.600 9 January 30 Cash 15,400 Treasury Stock 14,000 Additional Paid-in Capital 1,400 10 January 31 Salaries Expense Cash 42,000 42,000 11 January 31 Utilities Expense Utilities Payable 12 January 31 Supplies Expense Supplies 13 January 31 14 January 31 Depreciation Expense Accumulated Depreciation Income Tax Expense 2 Income Tax Payable 15 January 31 Service Revenue Retained Earnings 16 January 31 Retained Earnings Salaries Expense Utilities Expense Depreciation Expense Income Tax Expense Supplies Expense 17 January 31 Retained Earnings Dividends 6,400 6,400 On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: 5,300 5,300 Accounts Cash 1,550 Accounts Receivable 1,550 Supplies Equipment Accumulated Depreciation 2,200 Accounts Payable 2,200 Common Stock, $1 par value Additional Paid-in Capital 60,500 Retained Earnings 60,500 Totals Debit Credit $42,900 44,900 7,700 66,000 $9,200 14,800 12,000 82,000 43,500 $161,500 $161,500 During January 2024, the following transactions occur: 57,450 42,000 6,400 1,550 January 2 2,200 5,300 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $14,800. January 10 Purchase additional supplies on account, $5,100. January 12 Purchase 1,000 shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, $16,700. 3,600 3,600 January 21 Provide services to customers for cash, $49,300. January 22 Receive cash on accounts receivable, $16,800. 1 January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 12,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,200. The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $6,400. b. Supplies at the end of January total $5,300. of January is calculated using the straight-line method. At the time the equipment was ife of three years and a residual value of $10,200. a. Unpaid utilities for the month of January are $6,400. b. Supplies at the end of January total $5,300. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the eq purchased, the company estimated a service life of three years and a residual value of $10,200. d. Accrued income taxes at the end of January are $2,200. re $2,200. sk General Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis nt ences 3 Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decim and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The return on equity is: Is the company more or less profitable than other companies? % More (b) How many shares of common stock are outstanding as of January 31, 2024? The number of common shares outstanding as of January 31, 2024 is (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) If earnings per share was $3.60 last year (i.e., an average of $0.30 per month), is earnings per share for January 2024 better or worse than last year's average? Earnings per share is: Is earnings per share for January 2024 better or worse than last year's average? Better < Balance Sheet 8 January 29 Dividends Dividends Payable 3.600 3.600 9 January 30 Cash 15,400 Treasury Stock 14,000 Additional Paid-in Capital 1,400 10 January 31 Salaries Expense Cash 42,000 42,000 11 January 31 Utilities Expense Utilities Payable 12 January 31 Supplies Expense Supplies 13 January 31 14 January 31 Depreciation Expense Accumulated Depreciation Income Tax Expense 2 Income Tax Payable 15 January 31 Service Revenue Retained Earnings 16 January 31 Retained Earnings Salaries Expense Utilities Expense Depreciation Expense Income Tax Expense Supplies Expense 17 January 31 Retained Earnings Dividends 6,400 6,400 On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: 5,300 5,300 Accounts Cash 1,550 Accounts Receivable 1,550 Supplies Equipment Accumulated Depreciation 2,200 Accounts Payable 2,200 Common Stock, $1 par value Additional Paid-in Capital 60,500 Retained Earnings 60,500 Totals Debit Credit $42,900 44,900 7,700 66,000 $9,200 14,800 12,000 82,000 43,500 $161,500 $161,500 During January 2024, the following transactions occur: 57,450 42,000 6,400 1,550 January 2 2,200 5,300 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $14,800. January 10 Purchase additional supplies on account, $5,100. January 12 Purchase 1,000 shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, $16,700. 3,600 3,600 January 21 Provide services to customers for cash, $49,300. January 22 Receive cash on accounts receivable, $16,800. 1 January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 12,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,200. The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $6,400. b. Supplies at the end of January total $5,300. of January is calculated using the straight-line method. At the time the equipment was ife of three years and a residual value of $10,200. a. Unpaid utilities for the month of January are $6,400. b. Supplies at the end of January total $5,300. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the eq purchased, the company estimated a service life of three years and a residual value of $10,200. d. Accrued income taxes at the end of January are $2,200. re $2,200. sk General Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis nt ences 3 Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decim and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The return on equity is: Is the company more or less profitable than other companies? % More (b) How many shares of common stock are outstanding as of January 31, 2024? The number of common shares outstanding as of January 31, 2024 is (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) If earnings per share was $3.60 last year (i.e., an average of $0.30 per month), is earnings per share for January 2024 better or worse than last year's average? Earnings per share is: Is earnings per share for January 2024 better or worse than last year's average? Better < Balance Sheet