Question: Q2: Prepare a Common Size Income Statement and Common Sized Balance Sheet from the following information for the calendar year 2019 for Wolfskill Retail

Q2: Prepare a Common Size Income Statement and Common Sized Balance Sheet

Q2: Prepare a Common Size Income Statement and Common Sized Balance Sheet from the following information for the calendar year 2019 for Wolfskill Retail Holdings, Inc.: Inventory 6,500 Accts receivable 9,600 General and Admin. Expenses 850 Accts payable 4,800 Common Stock 45,000 Long-Term Debt 55,000 Cash 16,550 Cost of Goods sold 5,750 Operating expenses 1,350 Buildings and Equipment 122,000 Notes payable 600 Accumulated Depreciation 34,000 Interest expense 900 Taxes 1,440 Depreciation expense 500 Retained earnings ? Sales 12,800 Choose a Retained Earnings value that will make your Balance Sheet balance. Report all your Common Size percentages to 2 decimal places. Q3: Based on your statements, what is the value and the name of that value that tells you the results of how well you operated your business? Name: Value: $ Q4: Based on your statements, what is the company's Average Tax Rate (in pct)? Do they pay any SALT? (circle) YES NO

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