Fashion World Inc. reported the following accounts and balances in its un-adjusted trial balance as at December 31, 2017 (in thousands of Canadian dollars). The accounts are listed in alphabetical order:

Additional?information?is?as?follows:a. All of these accounts have ''normal" debit and credit balances.b.?The?note?payable?was?signed?on March?1, 2016.c.?The company?is?subject?to?an income?tax?rate of?30?percent.

Required:1. Identify the accounts that would be listed in a statement of earnings.2. Prepare the statement of earnings for Fashion World Inc. for the year ended December 31. 2017.3. Prepare the assets section only of a classified statement of financial position as at December 31, 2017.4. Compute the return on assets (ROA) based on your answers to the previous requirements. Assume that the company reported total assets of $186,200 at December 31, 2016. How would you interpret the ROA?

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Accumulated depreciation $ 28,600 Note payable, 5%, due March 1, 2019 $ 35,000 Cash Contributed capital (1,000 shares) Cost of sales Depreciation expense Furniture and equipment, at cost Insurance expense Investments (long term) Merchandise inventory Prepaid expenses Rent expense Retained earnings, January 1, 2017 Salaries expense 14,000 1,050 50,000 13,850 158,500 19,550 9,600 30,500 Sales revenue 68,800 232,250 1,100 750 Supplies expense Supplies inventory Trade accounts payable Trade accounts receivable 37,000 950 26,000 34,400 Other operating expenses 7,700 30,000