Presented below is the adjusted trial balance of Brown Investment Advisers as at 30 June 2021. Brown Investment Advisers Trial Balance As at 30 June 2021 Debit $ Credit $ Cash at Bank 34,300 Accounts Receivable 9,100 Office Supplies 2,100 Prepaid Insurance 7,000 Equipment 203,000 Accumulated Depreciation - Equipment 1,750 Accounts Payable 18,200 Salary Payable 3,150 Interest Payable 350 Revenue received in advance 5,600 Loan Payable (4 Years) 140,000 Browns, Capital 52,500 Browns, Drawings 2,800 Service Revenue 61,600 Insurance Expense 4,900 Salary Expense 16,800 Supplies Expense 350 Depreciation Expense - Equipment 1,750 Interest Expense 1,050 283,150 283,150

Required: a) Prepare Brown Investment Advisers Income Statement for the year ended 30 June 2021. (8 Marks) b) Prepare Brown Investment Advisers Statement of Changes in Equity for the year ended 30 June 2021. (4 Marks) c) Calculate Brown Investment Advisers Profit Margin and Return on Assets ratios (the total assets at 30 June 2020 was $248,500) (Round off the answers to the nearest 2 decimal places). (2 Marks) d) (i) Calculate Brown Investment Advisers Current ratio and the Debt-to-total assets ratio at 30 June 2021 (Round off the answers to the nearest 2 decimal places). (2 Marks) (ii) Discuss Brown Investment Advisers liquidity and solvency positions at 30 June 2021 as compared to 2020 (the Current ratio was 1.06:1 and the Debt-to-total assets ratio was 72.5% at 30 June 2020). (4 Marks)