The following financial data is provided for TUV Ltd for the year ended 31 December 2023:

Total sales: $500,000

Cost of goods sold: $300,000

Operating expenses: $100,000

Interest expense: $20,000

Income tax expense: $15,000

Total assets: $600,000

Total liabilities: $300,000

Equity: $300,000

Required: a. Prepare the Income Statement for the year ended 31 December 2023. b. Prepare the Balance Sheet as of 31 December 2023. c. Calculate the following ratios: i. Gross profit margin ii. Operating profit margin iii. Net profit margin iv. Return on assets (ROA) v. Return on equity (ROE) d. Interpret the calculated ratios and provide insights into the company’s financial health.