Question 2: Intel Industries Statement of Financial Position (SOFP) as of December 31, 2020 Assets Amounts Liabilities & Capital Amounts (Rs.) (Rs.) Cash & Cash Equivalents 49,080 Payables to Vendor 180,000 Investments in Securities (Stocks, 37,500 Other Payables Bonds etc.) Receivables from Debtors Accrued & Other Liabilities 30,000 Stock Inventories Current Assets (total) Current Liabilities (total) Long-term asset (Net Book Value) Long-term Loans Shareholders' Equity 900,000 Total Assets Total Liabilities & Capital Note: Assuming 365 days Find below additional data and transactions details for the year ended December 31, 2020: 1. Total Sales turnover (including credit sales) $2,700,000; 2. The Gross profit was 25% and Inventory turnover was 5.0; 3. The Liquidity ratio (current ratio) was 1.40; 4. Net sales to total asset ratio was 1.20; 5. The Receivable turnover in days was 40 days: 6. The debt/equity ratio was 65% Requirements: a) Complete the given 'Statement of Financial position (Balance sheet) of Dec 2020 by using given information for 'Intel Industries'. (4 marks) 2 b) Comment on the liquidity position and also give brief overview on gearing level of Intel Corporation; (2 marks)