Name: Student ID: Ple ase answer below question with the given paper Question 1 (9 marks) Following is the financial statement of Verseau Restaurant Group for the year ended 30t June 2016 and 2017. Balance Sheet of 30th June 2016 2017 Assets Current assets: 650,000 704,960 2,950,678 2,897,740 ,040,000 1,377,000 57.730 4,685,678 5,037,430 Account receivable (net) finan Supplies and prepaid expenses Total current assets 45,000 Investments and other assets Property and equipment (net) Total assets 1,155,180 1,155,180 4,500,1504.390,150 10.341.008 10,582.760 xpla Liabilities and shareholder's equity Current Wabilities: Account payable Taxation Accrued liabilities Others payable Installment sales Current portion of long-term debt Total current labilities 1,900,450 1,748,070 302,000 321,380 609.440 369,610 509,068 452,980 108,200 3,770,728 3,609,680 559,060 390,000 110,150 2,450,290 2,263,290 150,230 232.680 debt Shareholder's equity: 100,000 100,000 3,869,760 4,377,110 10,341,008 10,582,760 stock Retained earning Total liabities and shareholders' equity