A/P A/R 75 40 HW Problem 12.4 - Given the following information, A) prepare the multi-step income statement, retail earnings statement & classified balance sheet as of 12/31/X1, B) calculate the current ratio, gross profit ratio, and profit margin ratios, and C) Print the Excel formulas (CNTRL ~). Loss on Sale 15 75 Machine 70 Accumulated Deprec-Building 200 Note Receivable (4/5/x5) 60 Advertising Expense 15 Notes Payable (6/8/x4) Amortization Expense 10 Allowance Doubtful Accts 8 Paid in Capital Excess Par - Common Patent 120 50 60 Bad Debt Expense 10 Bond Payable (1/1/x9) 150 Preferred Stock Premium on Bond Payable 5 Building 40 400 Prepaid Insurance Cash 10 30 Rent Revenue Common Stock 80 Retained Earnings 1/1/X1 80 Copyright 30 Sales Cost of Goods Sold 600 Sales Discounts Depreciation Expense 30 Sales Returns & Allowances Dividends 50 Sales Tax Payable Dividends Payable 10 Short-term investment Estimated Warranty Liability 10 Supplies Gain on Sale 40 Supplies Expense CREATE 1,500 20 10 50 20 15 5 Goodwill 40 Tax Expense (20% rate) Insurance Expense 25 Trademark 15 Interest Expense 25 Treasury Stock 159 Interest Revenue 10 Unearned Revenue 60 Inventory 150 Wage Expense 250 Land (held for speculation) 80 Wages Payable 30 Land (used to operate business) 150 Warranty Expense 25