JB Corp Balance Sheet as at December 31, 2020 and 2021 Dec. 31, 2020 Dec. 31, 2021 ASSETS (in $) (in ) Cash at Bank 110,000 120,000 Accounts receivable 55,000 40,000 Inventory 40,000 45,000 Plant and Equipment 150,000 180,000 Land 120,000 120,000 Total 475,000 505,000 LIABILITIES & SHAREHOLDERS EQUITY Accounts payable 152,000 175,000 Taxes payable (outstanding) 13,000 15,000 Long-term debt 190,000 190,000 Common stock 100,000 100,000 Retained earnings 20,000 25,000 Total 475,000 505,000 Note: The Company has 1000 common stock outstanding in 2021. Required 2a. Based on the above financial statements, calculate RATIOS indicated in Column 5 (for 2021). (20 marks) 2b. Comment on JB Corp's performance on the basis of your calculations and comparison with the industry average (Column 6 & 7) (10 marks) JB Corp Balance Sheet as at December 31, 2020 and 2021 Dec. 31, 2020 Dec. 31, 2021 ASSETS (in $) (in ) Cash at Bank 110,000 120,000 Accounts receivable 55,000 40,000 Inventory 40,000 45,000 Plant and Equipment 150,000 180,000 Land 120,000 120,000 Total 475,000 505,000 LIABILITIES & SHAREHOLDERS EQUITY Accounts payable 152,000 175,000 Taxes payable (outstanding) 13,000 15,000 Long-term debt 190,000 190,000 Common stock 100,000 100,000 Retained earnings 20,000 25,000 Total 475,000 505,000 Note: The Company has 1000 common stock outstanding in 2021. Required 2a. Based on the above financial statements, calculate RATIOS indicated in Column 5 (for 2021). (20 marks) 2b. Comment on JB Corp's performance on the basis of your calculations and comparison with the industry average (Column 6 & 7) (10 marks)