Q2 Incomplete income statement and comparative statements of financial position for the ABC Company are provided below: Additional information for the year 2019 1. All sales are on account 2. Acid test ratio = 1.5:1 3. Profit Margin= 18% 4. Return on Assets = 30% 5. Current Ratio = 9.0 6. Inventory turnover = 4 times Required. a. Determine the missing values. (Hint: Calculate the tax rate) Assets Plant assets (net) Current assets Inventory Accounts receivable (net) Cash Total current assets. Total assets Equity and Liabilities 2014 2013 Share capital Retained earnings. Total equity 14-month notes payable: Six-month notes payable Total liabilities Total equity and liabilities. Sales Sales discount Cost of goods sold Gross profit Operating expenses Income from operations. Interest expense Income before income taxes Income tax expensel Net income Statements of Financial Position 2019 3,696,010 150,000 1,285,998 1,434,011 2,720,010 Income Statement For the Year Ended December 31, 2019 8,552,010 152,000 3992007 4408003 1,200,010 3207993 1242392 1965602 453,600 2018 3,564,010 1,376,010 760,010 300,010 2,436,010 6,000,010 2,400,010 300,010 2,700,010 2,640,010 660,010 3,300,010 6,000,010