Tech Ventures has provided the following trial balance data as of 31 December 2021:

• Cash: £50,000
• Accounts Receivable: £70,000
• Inventory: £40,000
• Property, Plant, and Equipment: £200,000
• Accounts Payable: £60,000
• Long-term Debt: £100,000
• Common Stock: £150,000
• Retained Earnings: £50,000

Requirements:

1. Prepare a trial balance as of 31 December 2021.
2. Using the trial balance, prepare an income statement for Tech Ventures for the year ended 31 December 2021.
3. Calculate the Return on Equity (ROE) using the provided data and explain its significance.