$\backslash$table$[[$Current liabilities$],[$Accounts payable,$40,400],[$Wages payable,$4,000],[$Interest payable,$1,500],[$Unearned revenue,$12,400],[$Dividend Payable,$8,000],[$Total current liabilities,$66,300],[$Long$-$term liabilities$],[$Note payable,$10,000],[$Bank loan payable,$40,000],[$Total long$-$term liabilities,$50,000],[$Total liabilities,$116,300],[$Shareholders$\text{'}$ equity$],[$Common Shares,$160,000],[$Retained Earnings,$199,505],[$Total shareholders's equity,$359,505],[$Total liabilities and shareholders' equity,$475,805]]\backslash$table$[[$Cozy Fireplaces Inc.,,$],[$Statement of Income,,$],[$For year ended December $31,2020,,],[,,],[$Revenues$,,],[$Sales Revenue,,$],[,482,700,],[$Expenses$,99,000,],[$Cost of goods sold,$36,000,],[$Wages expense,$3,000,],[$Insurance expense,$6,025,],[$Supplies expense,$1,500,],[$Depreciation expense,$2,150,],[$Interest expense,$2,600,],[$Electricity Eepense,$1,020,],[$Bad debts expense,$634,195,],[$Bank charges expense,,$],[$Total Expense,,$],[$Net Income,,$]]\backslash$table$[[\backslash$table$[[$Cozy Fireplaces Inc.$]]],[$Statement of Changes in Equity$],[$For year ended December $31,2020],[,\backslash$table$[[$Number of$],[$Common Shares$]],\backslash$table$[[$Share Capital $-],[$Common Shares$]],,\backslash$table$[[$ined$],[$ings$]],$Total,$],[$Balance$,$ January $1,2020,-,$$$,$$$,-,$$$,-],[$Common shares,$21,000,160,000,,,,160,000],[$Net Income,,,,$213,505,,213,505],[$Dividends Declared,,,,$-14,000,,-14,000,],[$Balance$,$ December $31,2020,21,000,160,000,$$$,199,505,$$$,359,505]]$ Part $4-$Closing Journal Entries

What accounts will have zero balances after closing entries are posted? And what should the

balance in the Retained Earnings general ledger account be after closing entries are posted to

the general ledger? Note: you should not prepare and post closing journal entries.

Part $5-$ Analysis of Performance

Using the formula sheet on the last page, compute three ratios $($gross profit margin, net profit

margin, and basic earnings per share$)$ and evaluate Cozy Fireplaces Inc.$\text{'}$s performance for its

first year of operations against the following standards and expectations:

Retail fireplace industry has a gross profit margin of $45\%$ and each dollar of sales results

in $30$ cents of profits.

Investors buying common shares were promised earnings per share of $$14$ per share.Regular transactions that the former accountant has not recorded in the accounting records:

December $1,2020,$ issued $1,000$ common shares for $$10,000.$ After this issuance, there are

$21,000$ shares issued $($i$.$e$.,20,000$ shares issued on January $1,2020,$ and these $1,000$ shares$).$ PLEASE USE THESE SCREENSHOTS TO HELP ME ANSWER PART $4$ AND $5.$ SO QUESTION NUMBER $6$ AND $7.$ THANKS