Group 4 - Major Assignment 1 Magic GMBA 4 Corporation Adjusted Trial Balance December 31, 2019...

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Group 4 - Major Assignment 1 Magic GMBA 4 Corporation Adjusted Trial Balance December 31, 2019 $ Dr $ Cr Cash Accounts receivable 938,816 560,000 Allowance for bad debts 8,800 Inventory 720,000 Long term investment 174,400 Property, plant, and equipment 800,000 Accumulated depreciation 320,000 Accounts payable 131,200 Accrued payables 96,000 Unearned revenues 128,000 Other long term liability 85,424 Bonds payable 800,000 Discount on bonds payable 85,360 Deferred income tax 51,136 Preferred stock 800,000 Common stock 80,000 Additional paid-in capital 880,000 Retained earnings 480,000 Dividends 64,000 Treasury stock 608,000 Operating revenues 1,944,000 Cost of goods sold 960,000 Selling and administrative expenses 400,000 Depreciation expense 80,000 Other expense 128,000 Bad debt expense 7,200 Rent expense 160,000 Interest expense 70,784 Income tax expense 48,000 Totals 5,804,560 5,804,560 Use the information provided to work with your group to prepare: 1. The income statement. 2. The statement of retained earnings. 3. The balance sheet. m English (United States) Accessibilita Conde e 4. Ratios that can be calculated from the data presented. Prepare and submit a PowerPoint presentation, which includes: 1. Title and introduction 2. Objectives of comparative financial statements 3. The three financial statements, and the details of calculations 4. Detailed calculations of the ratios and your comments on the ratios calculated 5. Comments/Opinion on the financial health of the company BA Group 4 - Major Assignment 1 Magic GMBA 4 Corporation Adjusted Trial Balance December 31, 2019 $ Dr $ Cr Cash Accounts receivable 938,816 560,000 Allowance for bad debts 8,800 Inventory 720,000 Long term investment 174,400 Property, plant, and equipment 800,000 Accumulated depreciation 320,000 Accounts payable 131,200 Accrued payables 96,000 Unearned revenues 128,000 Other long term liability 85,424 Bonds payable 800,000 Discount on bonds payable 85,360 Deferred income tax 51,136 Preferred stock 800,000 Common stock 80,000 Additional paid-in capital 880,000 Retained earnings 480,000 Dividends 64,000 Treasury stock 608,000 Operating revenues 1,944,000 Cost of goods sold 960,000 Selling and administrative expenses 400,000 Depreciation expense 80,000 Other expense 128,000 Bad debt expense 7,200 Rent expense 160,000 Interest expense 70,784 Income tax expense 48,000 Totals 5,804,560 5,804,560 Use the information provided to work with your group to prepare: 1. The income statement. 2. The statement of retained earnings. 3. The balance sheet. m English (United States) Accessibilita Conde e 4. Ratios that can be calculated from the data presented. Prepare and submit a PowerPoint presentation, which includes: 1. Title and introduction 2. Objectives of comparative financial statements 3. The three financial statements, and the details of calculations 4. Detailed calculations of the ratios and your comments on the ratios calculated 5. Comments/Opinion on the financial health of the company BA