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 tumoeer in days uns 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) b) Comment on the liquidity position and also give brief overview on gearing level of Intel Corporation (2 marks)