Question: I need this step by step please and please provide the formulas Page 9 Accounting 117-002 Homework # 1 .tobe graded Due 2/22/19 To follow
I need this step by step please and please provide the formulas Page 9 Accounting 117-002 Homework # 1 .tobe graded Due 2/22/19 To follow is the year end balances in the aocounts of Ven Corporation at 12/31/18 Common Stock Equipment Accounts Payable Accounts Recelvable Prepaid rent Salary & Wage Expense Retained Eamings, beginning 1/1/2013 $13,960 Cash $20,000 $24,250 $3,100 $10,150 $380 $5,840 $20,955 $4,700 $20,450 $6,600 $3,200 $2,800 $700 $300 $350 $175 $660 Notes Payable (due in 2018) Sales Revenue Depreciation Expense Income tax expense Income tax payable Interest expense Interest payable Rent expense Prepare in good form the a) Statement of Operations b) Statement of retained earnings c) Classified balance sheet Requirements: Calculate the following ratios a)Gross profit % b) Working Capital c) Current ratio d) Quick Ratio Credit: If the accounts receivable at 12/31/17 were $12,500, what were the days outstanding as of 12/31/18 Please show all formula's & work)
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