877 Stargel Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 $10,000,000 20Υ1 Sales.... ** Cost of goods sold. Gross profit. Selling expenses Administrative expenses. 5,350,000 $ 4,650,000 $ 2,000,000 $9,400,000 4,950,000 $4,450,000 $1,880,000 Total operating expenses Income from operations Other revenue.... 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 150,000 $ 1,300,000 140,000 $1,300.000 Other expense (interest) Income before income tax Income tax expense.... 170,000 $ 1,130,000 150.000 $1,150,000 230,000 225,000 Net income $ 900,000 $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 20Υ1 Assets Current assets: Cash Marketable securities $ 500,000 $ 400,000 1,010,000 1,000,000 Accounts receivable (net). 510,000 950,000 740,000 1,190,000 P...... Prepaid expenses... 250,000 229,000 Total current assets.. $3,690,000 $3,089,000 Long-term investments...... Property, plant, and equipment (net) Total assets 2,350,000 2,300,000 3,740,000 3,366,000 $9,780,000 $8.755,000 Liabilities Current liabilities. $ 900,000 $ 880,000 Long-term liabilities: Mortgage note payable, 10%.. Bonds payable, 10%.... Total long-term liabilities Total liabilities... $ 200,000 %2. 1,500,000 $1,700,000 1,500,000 $1,500,000 $2,380,000 $2,600,000 Stockholders' Equity Preferred S0.90 stock, $10 par Common stock, $5 par. $ 500,000 $ 500,000 ...... 500,000 500,000 Retained earnings Total stockholders' equity 6,180,000 5,375,000 $7,180,000 $6,375,000 $8,755,000 Total liabilities and stockholders'equity. $9,780,000 Instructions Determine the following measures for 20Y2, rounding to one decimal place including percentages, except for per-share amounts: e e an The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2. PR 17-4B Measures of liquidity, solvency and profitability Foromparative Retained E e Years Ended December 31, 20Y2 and 20Y1 Stargel Incngs Statement Retained earnings, January 1 Net income Total.......... Dividends: Preferred stock dividends. Common stock dividends Total dividends... . . Retained earnings, December 31

ect p.mheducation.com/ext/map/index.html?_con3con&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/... * D B homework i Saved Help Save & Exit Submit Check my work Required information [The following information applies to the questions displayed below.] Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand–2,000 units; cost $5.30 each. 8 Purchased 8,000 units for $5.50 each. 14 Sold 6,000 units for $12.00 each. 18 Purchased 6,000 units for $5.60 each. 25 Sold 7,000 units for $11.00 each. 28 Purchased 4,000 units for $5.80 each. 31 Inventory on hand-7,000 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the FIFO method. Cost of Goods…

Answer questions 8. And 9.

Is there a way you can provide an example for number 3?