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Statement of Cost of Goods Sold and Ratio Analysis of THE FIDELITY COMPANY

Statement of Cost of Goods Sold; Income Statement; Balance Sheet; Ratio Analysis. On September 30, 19B the trial balance of The FIDELITY Company appeared as follows

                                            THE FIDELITY COMPANY
                                                        Trial Balance
                                                     September 30, 19B
Cash in Banks and on Hand                        $ 23,400
Notes Receivable                                             2,180
Accounts Receivable                                      44,400
Raw Materials Inventory, October 1, 19A      38,200
Work in Process Inventory, October 1, 19A   44,500
Finished Goods Inventory, October 1, 19A     60,000
Prepaid Expenses                                             3,550
Land                                                              15,000
Buildings                                                      125,000
Accumulated Depreciation — Buildings                                 $ 1 5,000
Machinery                                                    165,000
Accumulated Depreciation — Machinery                                  66,000
Office Furniture and Fixtures                             2,600
Accumulated Depreciation — Office Furniture and Fixtures           500
Notes Payable                                                                         50,000
Accounts Payable                                                                    40,000
Accrued Wages Payable                                                            5,000
Accrued Interest on Mortgage                                                      500
Mortgage on Plant                                                                   75,000
Capital Stock                                                                        100,000
Earnings Retained in Business                                                130,830
Sales                                                                                    360,000
Sales Allowances                                          6,000
Raw Materials Purchased                            50,000
Direct Labor                                             100,000
Patterns and Drawings Expenses                   3,500
Miscellaneous Factory Overhead                90,000
Freight and Postage on Sales                       1 ,000
Miscellaneous Marketing Expenses             35,000
Miscellaneous Administrative Expenses       25,000
Interest Earned                                                                        2,500
Interest Paid                                                 6,000
Discounts on Sales                                        5,000           
Total                                                        $845,330            $845,330
The following information is also available
Inventories on September 30, 19B:                                       
Raw materials, 538,000 
Work in process, $48,000
Finished goods, $82,000 

Allowances for depreciation:
3% on buildings (80% to factory, 20% to administration)
10% on machinery (100% to factory) 
5% on office furniture and fixtures (100% to administration) Ignore income tax.


Required: (1) A cost of goods sold statement for the year ended September 30, 19B:
(2) An income statement for the year ended September 30, 19B.
(3) A balance sheet as of September 30, 19B.
(4) The following ratios and percentages:
(a) Current ratio.
(b) Acid-test ratio.
(c) Net income to net sales percentage.
(d) Ratio of gross profit to net sales.
(e) Rate of return on capital employed.
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