Please answer the following short answer questions with the graphs and work done in an excel file

SHORT ANSWER

$1)(10$ points$)$ Dependable Detailing has $7,000$ shares of common stock outstanding. The company also has the following amounts in revenue and expense accounts.

Sales revenue $ $125,000$

General and administrative expense $10,000$

Interest expense $4,000$

Depreciation expense $5,000$

Preferred stock dividends $1,400$

Selling expense $9,000$

Cost of goods sold $75,000$

Current Assets $30,000$

Current Liabilities $25,000$

Total Liabilities $55,000$

Total Assets $110,000$

Calculate

$($a$)$ gross profits.

$($b$)$ operating profits.

$($c$)$ net profits before taxes.

$($d$)$ net profits after taxes $($assume a $30$ percent tax rate$).$

$($e$)$ earnings available to common stockholders.

$($f$)$ earnings per share.

$($g$)$ current ratio

$($h$)$ debt ratio

$($i$)$ total asset turnover

$($j$)$ return on equity

$2)(5$ points$)$ On December $31,2023,$ the Prescott Corporation had $$505,000$ as an ending balance for its retained earnings account. During $2024,$ the corporation declared a $$3\mathrm{.}00/$share dividend to its stockholders. The Prescott Corporation has $50,000$ shares of common stock outstanding. When the books were closed for $2024$ year$-$end, the corporation had a final retained earnings balance of $$575,000.$ What was the net profit earned by Prescott Corporation during $2024?$

$3)(5$ points$)$ In preparation for the quarterly cash budget, the following revenue and cost information have been compiled. Prepare and evaluate a cash budget for the month of March based on the information shown below.

Month Sales Purchases

January $($actual$)$ $$4,500,000$ $$3,500,000$

February $($actual$)$ $$5,000,000$ $$4,000,000$

March $($forecast$)$ $$2,000,000$ $$1,000,000$

$$ The firm collects $60$ percent of sales for cash and $40$ percent of its sales one month later.

$$ The firm pays cash for $40$ percent of its purchases.

$$ The firm pays for $60$ percent of its purchases the following month.

$$ Salaries and wages amount to $15$ percent of the preceding month$$s sales.

$$ Lease payments of $$750,000$ must be made each month.

$$ Depreciation expense each month of $$50,000.$

$$ The firm has a beginning cash balance in March of $$150,000$ and maintains a minimum cash balance of $$100,000.$

$4)(5$ points$)$

Income Statement

Elliott Manufacturing Company

For the Year Ended December $31,2024$

Sales $$3,000,000$

Less: Cost of goods sold $1,800,000$

Gross profits $$1,200,000$

Less: Operating expenses $240,000$

Operating Profits $ $960,000$

Less: Interest expense $80,000$

Net profits before taxes $ $880,000$

Less: Taxes $(40\%)352,000$

Net profits after taxes $ $528,000$

Less: Cash Dividends $150,000$

To: Retained earnings $ $378,000$

Elliott Manufacturing estimates its sales in $2025$ will be $$3\mathrm{.}5$ million. Interest expense is expected to remain unchanged at $$80,000,$ and the firm plans to pay cash dividends of $$200,000$ during $2025.$ Use the percentage of sales expense method to prepare a pro forma income statement for the year ended December $31,2025,$ based on the $2024$ income statement shown above.