Mr. M is the owner of EXLO Inc. Mr. M has just received his end of the year financial statements from his accountant. When he sees his gross and net income he is discouraged. With almost Rs. 250,000 in gross profit he just doesnt understand why he is always short on cash to pay his employees and suppliers. One of his largest suppliers notified him just last month that they would no longer extend him credit and he would have to pre-pay all of his orders. He puts a call into his accountant to set up a meeting with her to discuss the financial health of his business. Required: a) Using your understanding of financial statements how do you find the following balance sheet related with income statement? b) If you are provided the information that all of rent expense of the company is related to the next year, do you think that this will improve companys profits? If yes, explain how? c) What would be the treatment of Rent expense if it is related to the next financial year? Make necessary adjustments.