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Part II: Please complete the following question: Q1: Below is a simplified balance sheet for Summerside Inc. (Summerside): Assets Current assets Non-current assets Summerside Inc.

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Part II: Please complete the following question: Q1: Below is a simplified balance sheet for Summerside Inc. (Summerside): Assets Current assets Non-current assets Summerside Inc. Balance Sheet As at December 31, 2017 Liabilities and shareholders' equity $2,250,000 Current liabilities 6,250,000 Non-current liabilities Shareholders' equity $8,500,000 Total liabilities and shareholders' equity $1,750,000 2,500,000 4,250,000 $8,500,000 Total assets Calculate the following on December 31, 2017 using Summerside's balance sheet and a net income of $450,000 1. working capital 2. Return on Assets 3. Return on Equity (hint: if you are not given enough information to calculate an average use the account balance)

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