Question five The following items are included in the financial statement of Huawei Company for 2019 based on FAS No.1: (all figures in US$): Account payable 37,500 27,500 Accumulated depreciation - video eqiupment 70,000 Account receivable Advertising expense 52,500 Cash 60,000 Common stock 225,000 Depreciation expense 30,000 Dividends 37,500 Insurance expense 7,500 Note payable (due 2022) 175,000 Prepaid insurance 15,000 Rent expense 42,500 Retained earnings (beginning) 30,000 Salaries expense 85,000 Salaries payable 7,500 Service revenue 362,500 Supplies 10,000 Supplies expense 15,000 Video equipment 525,000 Required: marks) 40 (40 a. Calculate the net profit for the year b. Compute, what is the retained earnings figure that would appear on the balance sheet at December, 2019. c. Prepare a classified balance sheet for Huawei Company dt December 31, 2019. Assuming the note payable is a long- term debt. d. Discuss how you differentiate between value-added and profit in Islamic financial statement