Item (account balance) $ Salaries 127,000 Rent for workshop premises 36,000 Cost of goods sold 500,000 Sales 772,000 Sales returns 10,000 Power consumption for workshop 6,000 Cash on hand 22,000 Marketable securities (fixed deposit) 20,000 Intangibles - Registered trademarks (IP) 16,000 Trade debtors 74,000 Packaging and handling expenses 1,000 Trade creditors 5,000 Provision for dividends payable 4,000 Inventory on hand (stock) 182,000 Long term loan (Westpac Bank) 40,000 Loans to company directors 33,000 Plant 89,000 Group Tax payable (Provision) 20,000 Issued and paid up capital 155,000 Share premium reserve 18,000 Retained earnings 45,000 Provision for depreciation: Plant (one off) 57,000 Question 1: From the list of account balances above separate those items that are revenue and expense items Match these together and calculate the profit Question 2: List the remaining items into asset, liability and equity categories. Add the profit as calculated in question 1, to equity and complete the accounting equation Question 3: Assuming that long-term loans are the only extremal debt arrangement, what is the gearing ratio for Meter Marshall at balance date