PLEASE HELP ME SOLVE THIS INVENTORY AND RATIO PROBLEMS

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4) Prepare a balance sheet. Assume that $6,250 of the bank loan will be paid off in the next year. Marco Polo Balance Sheet As at October 31, 2020 Assets Current Assets Cash 82,940.00 Account Receivable 17,100.00 Merchandise Inventory 82,800.00 Total Current Assets 132,840.00 Non-Current Assets Equipment 120,000.00 Less: Accumulated Depreciation -40,000.00 Total Non-Current Assets 80,000.00 Total Asset 212,840.00 Liabilities Current Liabilities Account Payable 47,500.00 CPP Payable 832.00 El Payable 379.20 Income Tax Payable 1,680.00 Salaries Payable 5,146.00 Current Portion of Bank Loan 5,250.00 Total Current Liabilities 62,787.20 Non-Current Liabilities Bank Loan 18,750.00 Total Non-Current Liabilities 18,750.00 Total Liabilities 81,537.20 Shareholders' Equity 131,302.80 Total Liabilities and Shareholders'Equity 212,840.00Marco Polo Income Statement For the Month Ended October 31, 2020 Sales Revenue 70,000.00 Less: Sales Discount 3,500.00 Net Sales 66,500.00 Cost of Goods sold 19.950.00 Gross Profit 46,550.00 Operating Expense Bank Charge Expense 60.00 Employee Benefits Expense 637.20 Salaries Expense 8,400.00 Total Operating Expense 9,097.20 Net Operating Income 37,452.80 Net Income 37,452.80 2) Prepare a calculation of retained earnings Calculation of Retained Earnings For the Month Ended October 31, 2020 Retain Earning, October 01,2020 31,850.00 Add Net Income 37,452.80 Retain Earning, October 31,2020 69,302.80 3) Prepare a statement of shareholders' equity Marco Polo Statement of Shareholders' Equity For the Month Ended October 31, 2020 Marco Polo, Capital at October 01,2020 93,850.00 Add: Net Income 37,452.80 Marco Polo, Capital at October 31,2020 131,302.80