Plasma Learning is an e-learning business that specialises in providing online learning resources in accounting, economics, and marketing management. The adjusted trial balance of Plasma Learning as at 30 June 2019 as follows.

	Debit $	Credit $
Cash at Bank	18500
Accounts Receivable	7800
Office Supplies	900
Prepaid Rent	3000
Equipment	60000
Accumulated Depreciation - Equipment		300
Furniture	27000
Accumulated Depreciation - Furniture		450
Accounts Payable		22300
Salary Payable		1350
Interest Payable		150
Unearned Service Revenue		2400
Loan Payable		60000
Owners, Capital		10000
Owners, Drawings	1500
Service Revenue		29600
Rent Expense	2100
Salary Expense	4700
Supplies Expense	150
Depreciation Expense - Building	300
Depreciation Expense - Furniture	450
Interest Expense	150
	126550	126550

Required:

a) Prepare Plasma Learnings Income Statement for the year ended 30 June 2019.

b) Prepare Plasma Learnings Statement of Changes in Equity for the year ended 30 June 2019.

c) Calculate Plasma Learnings Profit Margin and Return on Assets ratios (the total assets at 30 June 2018 was $95000). (Show all calculations, Round off the answers to the nearest 2 decimal places).

d) (i) Calculate Plasma Learnings Current ratio and the Debt-to-total assets ratio at 30 June 2019. (Show all calculations, Round off the answers to the nearest 2 decimal places).

(ii) Discuss Plasma Learnings liquidity and solvency positions at 30 June 2019 as compared to 2018 (the Current ratio was 1.85:1 and the Debt-to-total assets ratio was 53.87% at 30 June 2018).