FutureTech Ltd provided the following trial balance data as of 31 December 2021:

Account	Debit (£)	Credit (£)
Sales Revenue		700,000
Cost of Goods Sold	400,000
Administrative Expenses	80,000
Selling Expenses	60,000
Interest Expense	20,000
Income Tax Expense	40,000

Requirements:

1. Compile a trial balance as of 31 December 2021.
2. Using the trial balance, prepare an income statement for FutureTech Ltd for the year ended 31 December 2021.
3. Calculate the Return on Equity (ROE) if the total equity is £200,000 and discuss its relevance.