Financial Statements Essay

2. Review the Financial Statements Income Statement from the Accounting and bookkeeping lesson under the caper Finance section of this course. Use the information from the exemplar income statement for Jamies Bead Jewelry to dish up the questions below.a. What are the two sources of revenue for the troupe? (0.5 points)b. What is the callers fare revenue? (0.5 points)c. What is the companys net profit? (0.5 points)d. Is the company experiencing a profit, or a loss? (0.5 points)3. Review the Financial Statements relief Sheet from the Accounting and Bookkeeping lesson under the Business Finance section of this course. Use the information from the example balance sheet for Jamies Bead Jewelry to answer the questions below.a. What is the value of the companys assets? (0.5 points)b. What is the total of the companys liabilities? (0.5 points)c. What is the total owner equity? (0.5 points)4. Calculate the following financial ratios. TIP If you founding fathert remember how to calculat e financial ratios, review the Calculating Financial Ratio pages from the Accounting and Bookkeeping lesson under the Business Finance section of this course.a. A company makes a net profit onwards tax of $12,000 and has $20,000 in total equity. Calculate the companys return on equity as a percentage. (0.5 points)b. A company makes a net profit before tax of $5,000 and has total assets with a value of $10,000. Calculate the companys return on assets as a percentage. (0.5 points)c. A company has $1,400 in liabilities and $1,500 in assets. Calculate the companys debt ratio as a percentage. (0.5 points)d. A company has $1,400 in liabilities and $1,500 in equity. Calculate the companys debt to equity ratio as a percentage. (0.5 points)e. A companys veritable assets are $30,000 and current liabilities are $19,000. Calculate the companys current ratio as a percentage. Does the company have enough assets to pay its liabilities? (1.0 points)