mpany December 31, 2010 Liabilities & Assets Owners' Equity Current Assets: Liabilities Current Cash at bank 100000 Liabilities: Accounts Receivable Accounts Payable (A/R) 15000 (AP) 20000 Notes Payable Prepaid Expenses 55000 (N/P) 20000 Total Current Assets ??? Short-term Loans 30000 Total Current Non-Current Assets: Liabilities ??? Non-Current Land 1000000 Liabilities: Buildings 180000 Long-term Loans 300000 Cars 80000 Total Liabilities ??? Furniture 20000 Owners' Equity Total Non-Current Assets ??? Capital Intangible Assets: Retained Earnings 600000 Total Owners' Publication Rights 50000 Equity ??? Total Liabilities & Owners' Total Assets ??? Equity ??? ??? The above table shows comparative income statement of a company for the financial periods ended on December 31, of the years 2010 & 2011 Required: Use equations or functions to calculate cost of goods sold (40% of net sales revenues), gross profit, selling expenses (10% of net sales revenues), total expenses, and net profit or loss. Use equations or functions to calculate rate of return on sale, change rate of sales revenue and gross margin on sales