Question 32 19 pts Wong PTY LTD Adjusted trial balance As at 31 October 2019 Account name Debit Credit Cash $15,400 Supplies 1,550 Equipment 5,000 Accumulated depreciation 40 Accounts payable 2,550 Salaries payable 2,000 Bank loan (non-current) 5.000 Share capital 10.000 Retained earnings 0 Dividends 500 Service revenue 10,600 Salaries expense 7,650 Interest expense 50 Depreciation expense 40 $30,190 $30,190 Required: 1. Prepare a profit or Loss Statement (4 marks) 2. Prepare a Balance Sheet (7 marks) 3. Based on the Profit or Loss Statement and Balance Sheet, calculate the following ratios: (4 marks) Return on assets (i.e., net profit/total assets) Return on equity (i.e., net profit/total equity) Current ratio (i.e., current assets/current liabilities) Debt to asset ratio (i.e., total liabilities/total assets) 4. Explain what useful information the ratios in (3) can provide to external users (4 marks) o