Question 9 Required: Using the following financial statements, calculate the following: 1 Return on assets for 2021 2 Return on equity for 2021 EZ Home Services Income Statement For The Year Ending December 31, 2021 Merchandise Sales $282,800 Cost of Goods Sold $112,300$170,500 Gross Profit Openting Expenses \begin{tabular}{|l|l|rr|} \hline Advertising & & $2,800 \\ \hline Interest & & $15,200 \\ \hline Office & $860 \\ \hline Rent & $1,700 \\ \hline Salaries & $4,800 \\ \hline Utilities & $18,500 \\ \hline & $11,500 \\ \hline Total Expenses & & \\ \hline \end{tabular} EZ Home Services Balance Sheet December 31, 2021 Current Assets: \begin{tabular}{|c|c|c|} \hline \multicolumn{2}{|c|}{2021} & \multicolumn{1}{c|}{2020} \\ \hline$36,000 & $4,390 \\ \hline$13,000 & $13,750 \\ \hline$28,000 & $8,200 \\ \hline$77,000 & $26,340 \\ \hline$98,500 & $53,260 \\ \hline$29,800 & $19,800 \\ \hline$205,300 & $99,400 \\ \hline \end{tabular} Liabilities Current Liabilties Accounts payable Salary payable Uneamed revenues Current portion of long-term debt Total current liabilities Long-term Debt Total liabilities Shareholders Equity \begin{tabular}{|rr|rr|} \hline$14,250 & $20,750 \\ \hline$ & 1,250 & $ & 750 \\ \hline$ & 1,600 & $ & 900 \\ \hline$ & 4,800 & $4,800 \\ \hline$ & 21,900 & $27,200 \\ \hline$ & 24,000 & & $28,800 \\ \hline$45,900 & $56,000 \\ \hline \end{tabular} Total liabilities \begin{tabular}{ll} $24,000 & $28,800 \\ \hline$45,900 & $56,000 \end{tabular} Shareholders Equity Common shares (1000 shares @ \$1 each) Retained carnings \begin{tabular}{|l|r|} \hline$1,000 & $1,000 \\ \hline$158,400 & $42,400 \\ \hline$205,300 & \\ \hline & $99,400 \\ \hline \end{tabular} Total Liabilities and Shareholders Equity