FIND SOE, BS AND PROFIT MARGIN

File Edit View Insert Ford Dulu 7 100% - $ $ .00 123 Default (Ca. 11 - B IG Requirements: 1. Use the information in the adjusted trial balance below to prepare (a) the income statement (Stab) for the year ended December 31: (b) the statement of owner's egity (SOE tab) for the year ended December 31 (Note: Crowder capital at December 31 of the prior year was $255,0001; and (c) the balance sheet (Stab) as of December 31. 2. Compute the profit margin for the year (profit margin tab) (use total revenues as the denominator). The adjusted trial balance for Crowder Company as of December 31 follows: Credit Accounts receiveable Interest receivable Notes receivable due in 90 days) Office supplies Automobiles Accumulated depreciation automobiles Equipement Acumulated depreciation equipment Debit 35,000 50.000 16,000 150,000 16.000 170,000 45,000 125,000 65.000 Accounts payable 100,000 18,000 15,000 35,000 Salaries payable 255.000 Long-termes payable Crowder, capital Crowder, withdrawals Fees earned Interest earned 50,000 450,000 + Requirement - 15 - SOE - S - Pront Margin- Tower s ol caps lock 1ps lock Joent (1).xlsx INGROSSWERTRESS the year ended December 31; the statement of owner'segity S tab for the year ended December 31 Note: Crowder capital at December 31 of the prior yes was $255.000; and the balance sheet istab of December 31. Open wil 2. Compute the profit margin for the year profit margintabluse total revenues as the denominator) The adjusted trial balance for Crowder Company as of December 31 follows: Debit Credit Cash Accounts receivable Interest receivable Notes receivable due in 90 days) Omice supplies Automobiles Accumulated depreciation automobiles Equipment Accumulated depreciation equipment 35,000 50,000 16.000 150.000 16.000 170,000 1.000 Land & 25.000 65,000 N 100.000 18,000 15.000 35.000 120,000 255,000 50,000 Accounts payable Interest payable Salaries payable Unearned revenue Long-term notes payable Crowder, capital Crowder, withdrawals Fees earned Interest earned Depreciation expense automobiles Depreciation expense equipment Salaries expense Interest expense Office suppliesexpense Advertising expense Repairs expense automobiles Totals Requirement is SOE S Profit Margin 450,000 37,000 24,000 195.000 35.000 28.000 60.000 22.000 10.000 1,083.000 esc