12 Prepare the entries to close the net income summary to retained earnings. O Retained Earnings 35,000 Income Summary 35,000 O Income Summary 35,000 Retained Earnings 35,000 Account receivable 38,000 Retained Earnings 38,000 O Income Summary 18,000 Retained Earnings 18,000

Satterfield CompanyIncome StatementsFor the Years Ended December 31   20Y1 20Y0 Fees earned $534,100   $490,000   Operating expenses 328,960   320,000   Net income $205,140   $170,000   Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns.   20Y1 20Y0 AmountIncrease/(Decrease) PercentIncrease/(Decrease) Fees earned $534,100 $490,000 $fill in the blank 1 fill in the blank 2% Operating expenses 328,960 320,000 $fill in the blank 3 fill in the blank 4 Net income $205,140 $170,000 $fill in the blank 5 fill in the blank 6

Need help with the second half

Income Statement Sales CGS Depr EBIT Interest EBT Taxes Net Income Div Add to RE Balance Sheet Cash AR Inven Current Assets Net Fixed Assets Total Assets AP NP Accrued Wages Current Liab LTD Common Stock Retained Earnings Total Common Eq T. Liab & Equity Year 0 $8,000 1.25 5,000 1.25 600 1.25 $2,400 200 $2,200 550 Use 25% $1,650 $1,200 $ 450 AFN $400 1.25 600 1.25 500 1.25 $1,500 2.500 1.25 $4,000 $ 100 200 100 $ 400 800 1,500 70 1.300 $2,800 $4,000 1" Pass Forecast Year 10,000 200 500 750 625 1875 3,125 5,000 200 2nd Pass Forecast Year 10,000 500 750 625 1875 3,125 5,000 200 1. Calculate the proforma income statement and balance sheet assuming 25% growth (use the constant growth method and assume the company is at full capacity). Assume additional funds needed will come from 60% LTD and 40% from a common stock issue. Interest on the debt is 9% and the common stock will sell for $30 per share and pay $1.00 per share in dividends. (Use balance sheet and income statement on page 1)

Give the solutuin

Provide a Conclusion and Recommendation for the company.

Multiple-Step and Single-Step In coin Statements The following items were derived from Gold Companys December 31 adjusted trial balance: Additional data: 1. Screen thousand share of common stock have been outstanding the entire year. 2. The income tax rate is 30% on all items of income. Required: 1. Prepare a multiple-st income statement. 2. Prepare a single step income statement. 3. Next Level Discuss how Gold Companys income statement in Requirement I might be different if it used IFRS

Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on the liquidity metric working capital and profitability metric gross profit percent. Indicate the gross profit percent for each sale (rounding to one decimal place) in parentheses next to the effect of the sale on the company’s ability to attain an overall gross profit percent of 30%.

Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income    $661,910Interest expense    116,810Average total assets    6,280,000Determine the return on total assets. If required, round the answer to one decimal place.fill in the blank 1 %

Ht.10.