2. The Pie Store (TPS) The Pie Store (TPS) bakes pies and sells them in its three retail stores. When developing its brand, TPS used the mathematical symbol pi (TT). In 2020, each store made a profit. Table 1: Financial information for TPS' three retail stores for 2020 (all figures in $) Store 2 223000 120 000 Sales Cost of goods sold Gross profit Expenses Net profit before interest and tax Store 1 180 000 90 000 90 000 66 000 X Store 3 170000 85000 85000 67 000 z 103000 76000 Y At the end of 2020, the balance sheet for TPS (the three stores combined) showed $200 000 in assets and $120000 in liabilities. $50 000 of the liabilities was long-term debt. (a) Describe one step in the development of a brand. [2] (b) Calculate: (i) which store made the highest net profit before interest and tax (no working required); [1] (i) which store had the highest profitability (show all your working). [2] (c) Calculate: (i) TPS' equity; [1] [2] (ii) TPS return on capital employed (ROCE) (show all your working). (d) Explain one effect that the $50 000 long-term debt may have on TPS' profit and loss account. [2]