The following information is provided for the company 'Excellent Speed Logistics - ESL' (figures are in euro): Prepaid insurance 12,000 Beginning Retained Earnings 12,000 Bank overdraft (short-term borrowing) 22,000 Interest income 4,000 Closing inventory 81,000 Accounts receivables - net 93,000 Long-term marketable securities 110,000 Advertising expenses 31,000 Other short-term liabilities 13,000 Copyrights 90,000 Other receivables 33,000 Purchases 220,000 Gain from sale of Patents 50,000 Advanced billings and customer deposits 10,000 Common stock ? Plant and Equipment 204,000 Other general expenses 18,000 Selling, general and administrative expenses 77,000 Cost of sales ? Goodwill 75,000 Creditors 43,000 Cash and cash equivalents 96,000 Accrued compensation and benefits 9,000 Sales 530,000 Sales discounts 22,000 Opening inventory 24,000 Patents 60,000 Long term debt 200,000 Purchases returns 11,000 Land 85,000 Temporary investments 47,000 Purchases discounts 7,000 Interest expense 2,000 Loss from sale of fixed assets 9,000 Current period's retained earnings ? Consider that the tax rate for the company is 20% and the taxes are due at the publication date of the balance sheet. Also, there is a declared decision by the company to pay cash dividend of 20,000 in total, but the payment date will be after three months from the publication date of the balance sheet. Using this information, you are required to: a. Prepare the income statement for the company 'Excellent Speed Logistics - ESL', using a multi-step format with five measures of profitability: gross profit, operating income, earnings before interest and taxes, pretax income, net income. (10%) b. Prepare the balance sheet, considering the groups: current assets, noncurrent assets, current liabilities, long-term liabilities, stockholders' equity. (10%) The following information is provided for the company 'Excellent Speed Logistics - ESL' (figures are in euro): Prepaid insurance 12,000 Beginning Retained Earnings 12,000 Bank overdraft (short-term borrowing) 22,000 Interest income 4,000 Closing inventory 81,000 Accounts receivables - net 93,000 Long-term marketable securities 110,000 Advertising expenses 31,000 Other short-term liabilities 13,000 Copyrights 90,000 Other receivables 33,000 Purchases 220,000 Gain from sale of Patents 50,000 Advanced billings and customer deposits 10,000 Common stock ? Plant and Equipment 204,000 Other general expenses 18,000 Selling, general and administrative expenses 77,000 Cost of sales ? Goodwill 75,000 Creditors 43,000 Cash and cash equivalents 96,000 Accrued compensation and benefits 9,000 Sales 530,000 Sales discounts 22,000 Opening inventory 24,000 Patents 60,000 Long term debt 200,000 Purchases returns 11,000 Land 85,000 Temporary investments 47,000 Purchases discounts 7,000 Interest expense 2,000 Loss from sale of fixed assets 9,000 Current period's retained earnings ? Consider that the tax rate for the company is 20% and the taxes are due at the publication date of the balance sheet. Also, there is a declared decision by the company to pay cash dividend of 20,000 in total, but the payment date will be after three months from the publication date of the balance sheet. Using this information, you are required to: a. Prepare the income statement for the company 'Excellent Speed Logistics - ESL', using a multi-step format with five measures of profitability: gross profit, operating income, earnings before interest and taxes, pretax income, net income. (10%) b. Prepare the balance sheet, considering the groups: current assets, noncurrent assets, current liabilities, long-term liabilities, stockholders' equity. (10%)