Required: Using the following financial statements, calculate the following: 1 Return on assets for 2022 2 Return on equity for 2022 (There are no preferred dividends payable) Marks Available: 2 Merchandise Sales Cost of Goods Sold Gross Profit EZ Financial Services Income Statement For The Year Ending December 31, 2022 $ 228,800 $ 91,300 $ 137,500 Operating Expenses Advertising $ 2,700 Interest Office $ 14,300 $ 1,850 Rent $ 3,600 Salaries $ 22,900 Utilities $ 12,650 Total Expenses Net Income EZ Financial Services Balance Sheet $ 58,000 $ 79,500 Current Assets: Cash Accounts Receivable Net of AFDA Inventory Total Current Assets: Capital Assets Net of A/A Long-term Investments December 31, 2022 2022 2021 $ 111,400 $ 64,950 $ 17,050 $ 17,350 $ 39,750 $ 14,500 $ 168,200 $ 96,800 $ 205,800 $ 75,700 $ 2,600 $ 18,900 $ 376,600 $191,400 Total Assets Liabilities Current Liabilties Accounts payable $ 25,400 $ 17,250 Salary payable $ 3,250 $ 1,200 Unearned revenues $ 3,200 $ 2,900 Current portion of long-term debt $ 4,800 $ 4,800 Total current liabilities $ 36,650 $ 26,150 Long-term Debt $ 124,000 $ 28,800 Total liabilities $ 160,650 $ 54,950 Shareholders Equity Common shares (1000 shares @ $1 each) $ 1,000 $ 1,000 Retained earnings $214,950 $135,450 Total Liabilities and Shareholders Equity $ 376,600 $191,400