The following information is available for the Maine Company and the lowa Company: Total assets Total liabilities Stockholders' equity Net income Maine Co. $ 697,000 414,000 283,000 36,000 Iowa Co. $ 152,000 110,000 42,000 18,000 Required a. For each company, compute the debt-to-assets ratio and the return-on-equity ratio. (Round your answers to 1 decimal place.) Answer is complete but not entirely correct. Maine 59.0 X % lowa 72.0 % Debt to assets ratio Return on equity ratio 25.0 % 72.0 % b. Determine what percentage of each company's assets were financed by the owners. (Round your answers to 1 decimal place.) Answer is complete but ndt entirely correct. Maine 41.0 % % 28.0 % lowa c. Which company has the greatest level of financial risk? Maine Company lowa Company Required information [The following information applies to the questions displayed below.) The following transactions pertain to Smith Training Company for Year 1: 30 Established the business when it acquired $51,000 cash from the issue of common Jan. stock. Feb. 1 Paid rent for office space for two years, $17,200 cash. Apr. 10 Purchased $890 of supplies on account. July 1 Received $21,000 cash in advance for services to be provided over the next year. 20 Paid $668 of the accounts payable from April 10. Aug. 15 Billed a customer $10,200 for services provided during August. Sept. 15 Completed a job and received $3,100 cash for services rendered. Oct. 1 Paid employee salaries of $37,500 cash. 15 Received $7,700 cash from accounts receivable. Nov. 16 Billed customers. $36,000 for services rendered on account. Dec. 1 Paid a dividend of $500 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,050 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $60 was on hand at the end of the period. salaries as On December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $60 was on hand at the end of the period. f. Prepare a post-closing trial balance for Year 1. (Round your final answers to the nearest whole dollar amount.) SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit $ 0 S 0 Totals