o 01 D (20 Marks) 1. Define Real assets and Financial assets in a few words? 2. Which of the following are real assets, and which are financial? a) A share of stock b) A personal IOU 1 c) A Trademark d) A truck e) Undeveloped land ) The balance in the firm's checking account B) An experienced and hard working sales force h) A bank loan agreement ENG 26 515 wontest rediction on Type here to search O LL E E Q2D (20 Marks) Prepare a balance sheet and income statement from the following information for Jerry Ltd as of 31st Dec 2019 Land 2,000: Plant and equipment 12,300. Accumulated depreciation 7,300 Cash 1,400, Marketable security 300, Accounts Receivables 10,000. Inventories 12,000. Prepaid Expenses 300, Accounts payable 3.000, Notes Payable 3,400, Accrued salaries, wages and other expenses 3.100. current portion of long term debt 500, deferred income tax 1,500, mortgage due 6,300. Term loan 2.900. Share Capital? Retained earnings 8.200. Net Sales 51.000, Cost of goods 38,000. selling expense 3.100, depreciation 500, General and administrative expense 5,400, Interest expense 1.000. Income tax at the rate of 40% If Ordinary dividend is 300 what is Retained earnings? If there are 100,000 shares what is camning per share and dividend per share? ENG 181 10-02