NewBiz Trial Balance at 31-Dec2018 128,000 64,000 450,000 450,000 Cash Equity (Equity Introduced) Building long-term loan 1 Equipment Long-term loan 2 Purchases (Total) Sales (Total) Marketing Expenses 94,000 94,000 198,000 349,000 37,500 59,000 Receivables Trade Payables Light & Heat (Expense) Alc 31,000 21,500 988,000 988,000 After the Trial Balance (TB) was prepared, you have been informed of the following adjustments that need to be completed: The figure in the TB for L&H refers to the amount paid for 11 months. A notice was received after the year end stating that the amount owing for December 2,500 was It has been estimated that the useful life of the Equipment is 4 years. Which of these statements is/are correct for NEWBIZ? Which of these statements is/are correct for NEWBIZ? 1 The Total for Non-Current Assets (which are long-term resources) is 520,500. 1 The Total for Non-Current Liabilities (which includes Loans payable within 1 year is 450,000, Select one a. Both (1) and (II) are incorrect b. Both (1) and (11) are correct c. Only it is correct d. Only lis correct