The following is the Trial Balance of Al Ahmed Enterprises Al Ahmed Enterprises Trial Balance December 31st 2020 Dr. Cr. Title of the accounts (Omani Rial) (Omani Rial) Sales 1,362,000 Carriage outward Land and buildings at cost Building repairs Purchases Stock as on 1st January 2020 Carriage on purchases Furniture and fixtures at cost Repairs and maintenance of furniture Equipment's at cost Purchase returns Salaries Insurance premium Bad debts 6,000 840,000 6,000 480,000 69,000 6,600 126,000 12,000 90,000 9,600 66,000 18,000 6,000 Creditors 88,800 Cash at bank Rent 60,000 36,000 108,000 Debtors 541,200 Capital Drawings Electricity expenses Total Closing Stock ...........115,000... 57,600 14,400 2,085,600 2,085,600 You are required to prepare a) Income statement for the year ending 31st December 2020. b) Statement of Changing in equity for the year ending 31st December 2020. c) Balance sheet statement for the year ending 31st December 2020. d) Calculate the following ratios: Gross profit ratio. b. Net profit ratio. a. c. Current Ratio d. Quick Ratio e. Cash Conversion Cycle