50 QUESTION 2 5,300 Sultan Company Trial Balance on December 31, 2019 is as follow: s Dr. $ Cr. Cash 2,500 Supplies 1,900 Prepaid license 2,400 Properties B5,000 Furniture 16,800 Accounts payable Unearned revenue 3,600 Bank loan 40,000 Capital 56,000 Drawings 1,000 Service revenue 9.200 Utilities expenses 1,000 Salaries expenses 3,000 Other expenses 500 Total $ 114,100 $ 114,100 Requird a. [15 marks) Prepare the income statement for the year ended December 31, 2019 Click Save and Submit to save and submit. Click Save All Answers to save all answers, Requird a. [15 marks) Prepare the income statement for the year ended December 31, 2019 b. [10 marks) Prepare the statement of owner's equity for the year ended December 31, 2019 C. [15 marks] Prepare the balance sheet as on December 31, 2019 d. [10 marks] Use your prepared balance sheet to calculate the Cash Ratio of the company and explain your answer (Cash Ratio - Cash / Current Liabilities) Income Statement (add as much needed rows for: income, expenses, net-income) Statement of owner's equity (add as much needed rows for: capital, net-income, withdrawals, equity balance) Balance Sheet (add as much needed rows for: Assets - Liabilities + Owner's Equity) # 3 (12pt) : T.EE TTT Arial 58 Click Save and Submit to save and submit. Click Save All Answers to save all answers