The following trial balance was extracted from the books of a business: Cr $ 238,900 1,620,570 Trial Balance as at 31 March 2010 Dr $ Property 689,000 Fixtures and equipment 147,820 Accounts receivable and payable 263,400 Inventories as at 1 April 2009 149,500 Purchases and sales 970,650 Carriage inwards 15,900 Returns inwards and outwards 22,640 Wages and salaries 290,740 Rates and insurance 45,600 Sundry expenses 27,800 Discounts allowed and received 26,800 Cash at bank 72,900 Share Capital and Dividends 260,000 2,982,750 17,510 13,500 1,092,270 2,982,750 Inventory as at 31 March 2010 was valued at $189,200. (a) Prepare the following: (i) An income statement for the year ended 31 March 2010 (ii) A balance sheet as at 31 March 2010 (b) Calculate the following ratios: Gross profit margin (ii) Net profit ratio (iii) Return on capital employed (iv) Current ratio (v) Liquid ratio (c) Comment briefly on the profitability and liquidity of the business