Bayside Rental Ltd has the following data information as of 30 June 2022:

Cost of sale of $ 45,950

Revenue of $192,700

Other operating expenses of $12,570

Interest Expense of $5,000

Corporate Income tax of 30%.

Required:

a) Calculate EBIT and prepare an income statement for the company for the accounting period. (4 marks)

b) How much is the interest coverage ratio of the company? (1 mark)

c) Calculate the total assets of the company, knowing that Return on Equity (ROE) is 25% and total liabilities are $143,000. (2 marks)