The assets and liabilities of Hercules Inc. as of December 31,2019, and revenues and expenses for the year ended on that date follow: Land Note payable (due 2025) Accounts payable Rent expense Cash Common shares Furniture Interest expense $98,000 95,000 21,000 3,000 10,000 75,000 20,000 4,000 Property tax expense Accounts receivable Advertising expense Building Salary expense Salary payable Service revenue Supplies $5,000 25,000 10,000 140,000 85,000 12.000 200,000 3,000 Beginning retained earnings were $50,000, and dividends totalled $50,000 for the year. Rennired 1. Prepare in good form a statement of carnings (income statement) of Hercules Inc. for the year ended December 31, 2019. (6 marks) 2. Prepare in good form a statement of retained carnings of Hercules Inc. for the year ended December 31, 2019. (3 marks) 3. Calculate the following for Hercules at December 31, 2019 (8 marks)-show your work-: Current Assets: Total Assets : Total Liabilities: Total Shareholders' equity: 4. Analyze Hercules Inc. by answering these questions (3marks): a. Was Hercules Inc. profitable during 2019? By how much? b. Who owns more of Hercules Inc.'s assets, the creditors or the shareholders? Why