Please use excel.

ASAP

ACCT 2023 PROJECT 1 Solar Solutions began operations on January 1, 2015, and is now in il Solar Soluti Solar Soluti Solar Soluti Solar Soluti Solar S Solar Solutions began operations on January 1, 2015, and is now in its sixth year of operations. It is a retail sales company with a large amount of online sales. usted trial balance as of December 31, 2020 appears below, along with prior year balance sheet data and some additional transaction data for 2020. SOLAR SOLUTIONS Adjusted Trial Balance 12/31/2020 Account Title Credit ##### 35,000 6,000 15,600 47,000 21,000 (16,000) ##### Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Salaries Expense Insurance Expense Advertising Expense Depreciation Expense Interest Expense Income Tax Expense 2020 2019 Adjusted Trial Balance st-Closing Trial Balar Debit Debit Credit $ 122.200 $ 125,600 55,000 35,000 5,000 6.000 46,000 15,600 63,000 47,000 59,000 21,000 $ 21,000 16,000 11,200 16,800 2,600 2,700 2,000 4,000 31,000 22,100 240,000 160,000 28,600 28,600 10,000 235,000 127,600 20,000 36,000 11,800 6,000 5,000 1,800 3,000 ###000 ++++10 ###### 250.200 a e 1 Transaction Data for 2020 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment $ 6,000 Cash paid for purchase of tools 10,000 Acquisition of Machinery with Notes Payable-Long-term 38,000 Payment on Long Term Debt ? Cash payment of dividends 10,000 Cash receipt from issuance of 10,000 shares of common stock 80,000 Instructions Income Statement Balance Sheet Stmt of Cash Flows Analysis Investment Essay 36 37 Transaction Data for 2020 (Note, these transactions were included in the trial balance numbers above.) 38 Cash paid for purchase of office equipment $ 6,000 39 Cash paid for purchase of tools 10,000 40 Acquisition of Machinery with Notes Payable-Long-term 38,000 41 Payment on Long Term Debt ? 42 Cash payment of dividends 10,000 43 Cash receipt from issuance of 10,000 shares of common stock 80,000 44 45 46 ements: (See sheet tabs at bottom. Use each sheet for the folloving requirements.) 47 cel Skills in completing these requirements. You must use formulas and functions, cell references, and professional Using examples from your textbook, or online research, prepare the Solar Solutions multi-step income statement for the year ended December 48 31, 2020. Include the EPS at the bottom. 49 Also include a vertical analysis column at the right and perform a vertical analysis of the income statement. (Use percentage format with 1 decimal place.) 50 Prepare the Solar Solutions balance sheet for December 31, 2020. Include a vertical analysis column at the right 51 and perform a vertical analysis of the balance sheet. (Use the percentage format with 1 decimal place.) 52 Prepare the Solar Solutions statement of cash flows for the year ended December 31, 2020. Use the indirect method. Your textbook has examples of this. 53 Complete the analysis of the financial statements as directed on the Analysis sheet. Use percentage format where appropriate with 2 decimal places. Complete the analyis of the investment options between this company and EBUY (ratios given). Also use the chart from the attached article, 54 and any other source to analyze the impact of using GAAP vs. IFRS> Write short response (15-30 sentences) on your analysis. SOLAR SOLUTIONS Income Statement Year Ended December 31, 2020 Vert. Analysis 1 1 1 1 1 1 Instructions Income Statement Balance Sheet Stmt of Cash Flows Analysis In C SOLAR SOLUTIONS Balance Sheet December 31, 2020 Vert. Analysis Instructions Income Statement Balance Sheet Stmt of Cash Flows Analysis Investment Essay SOLAR SOLUTIONS Statement of Cash Flows Year Ended December 31, 2020 Instructions Income Statement Balance Sheet Stmt of Cash Flows Analysis decim procesor formadas porcowager or cwrowcy as propria Invento Days Gross Accou Days ry Sales in Profit nts Sales in Turnov Inventory Percent Receiv Receiva 2019 Total Assets Rate of Return Asset on Turnover Total Ratio Rate of Return Earning on s Per Stockho Share 2013 SHE = -Curreat Stock Price is $10.00 per share Price? Earning Dividend Dividend Yield Payout s Dividend per shares Page 1 Requirement 2. Based on the ratios competed above, analyze the company's ability to pay its debts (both current and long tera). Refer to at least 3 specific ratios in your analysis. Requirement 3: Based on the ratios computed above, analyze the company's management of intentory. Refer to at least 2 specific ratios in your analysis. Requirement 4: Based on the ratios computed abort. analyze the company's management of receivables. Refer to at least 2 specific ratios in your analysis. You have just received a large annual bonus at work, and have decided to invest it in stocks for your retirement. You have been analyzing different stocks and have narrowed your choice to two possibilities. You can either invest in Solar Solutions, or in EBUY. EBUY's ratios are given below. Select 3 ratios you might use to determine which stock to invest in and make a choice. Defend your selection with quality reasoning. The second part of your analysis is to read the article attached to this assignment. On pages 117-120, there is a chart that summarizes some of the differences between GAAP and IFRS. Explain the general similarities and differences, and discuss how interest expense would be presented on the Statement of Cash Flows. Include in your discussion any differences between GAAP and IFRS. Would that impact your investment decision above? Your answer will be graded on analysis, logic, and writing skills. EBUY Ratios: 1. Which three ratios would you choose to analyze which company would be a better INVESTMENT for you? Think about which ratios help investors. Curren Vorking t Ratio Capital 5.00 $300,000 Cash Ratio 4.00 Debt- Debt to- Ratio Equit 0.35 0.40 Invent Days Gross Accoun Days org Sales in Profit ts Sales Turno Inventor Percent Receiva in ver age ble Recei 7.25 50.34 48% 7.50 48.67 Investment ratios usually include the P/E ratio, the dividend yield, the EPS and the Dividend payout ratio. All ratios are relevant in that they show how well the company is op 2. Based on your selection of ratios above, which company has better ratios for investore? Which company would you invest in? Why? Page Rate of of Asset Return Earning Return Turnove on s Per on Ratio Stockh Share 1.50 15% 15.40 Priced Dividen Earnin Dividen d 9s d Yield Payout 14.50 2.00% 12% 3. Read the article attached on the assignment in CANVAS. Focus on page 117-120, and explain the general similarities AND differences between GAAP and IFRS