-PLEASE HELP! THANKS!!

Problem 1

Arrange the following items in proper balance sheet presentation. See textbook, pages 29 31 and 46 - 47.

Accumulated depreciation.............. $300,000

Retained earnings................................................................... 96,000

Cash....................................................................................... 10,000

Bonds payable........................................................................ 136,000

Accounts receivable............................................................... 48,000

Plant and equipmentoriginal cost........................................ 680,000

Accounts payable................................................................... 35,000

Allowance for bad debts........................................................ 6,000

Common stock, $1 par, 100,000 shares outstanding.............. 100,000

Inventory................................................................................ 66,000

Preferred stock, $50 par, 1,000 shares outstanding................ 50,000

Marketable securities.............................................................. 20,000

Investments............................................................................ 20,000

Notes payable......................................................................... 33,000

Capital paid in excess of par (common stock) ....................... 88,000

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Problem 2 See textbook, pages 26 31.

Fill in the blank spaces as indicated below:

Balance sheet (BS) Current liabilities (CL)

Income statement (IS) . Long-term liabilities (LL)

. Current assets (CA) . Stockholders equity (SE)

. Fixed assets (FA)

Indicate Whether Item Is on Balance Sheet (BS) or Income Statement (IS)	If on Balance Sheet, Designate Which Category (CA,FA,CL,LL,SE)	Item
_____	_____	Accounts receivable
_____	_____	Retained earnings
_____	_____	Income tax expense
_____	_____	Accrued expenses
_____	_____	Cash
_____	_____	Selling and administrative expenses
_____	_____	Plant and equipment
_____	_____	Operating expenses
_____	_____	Marketable securities
_____	_____	Interest expense
_____	_____	Sales
_____	_____	Notes payable (6 months)
_____	_____	Bonds payable, maturity 2019
_____	_____	Common stock
_____	_____	Depreciation expense
_____	_____	Inventories
_____	_____	Capital in excess of par value
_____	_____	Net income (earnings after taxes)
_____	_____	Income tax payable

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Problem 3

ElectroWizard Company produces a popular blood pressure monitor which sells for $65. Last year ElectroWizard sold 100,000 monitors, each of which costs $10 to produce. ElectroWizard incurred selling and administrative expenses of $200,000 and depreciation expense of $100,000. In addition, ElectroWizard has a $1,000,000 loan outstanding at 8%. Their tax rate is 40%. There are 400,000 common shares outstanding (the company does not have preferred stockholders).

Prepare an income statement for ElectroWizard in good form (include EPS). See pages 26 28.