b) i) A piece of equipment costs $300,000 is expected to last 5 years, it is then sold for $75,000. What amount of depreciation will be entered into the balance sheet in any one year? Explain your answer. [2] Complete the balance sheet (Balance sheet 1 on Moodle) by adding this value. ii) Why is depreciation included on the assets side of the balance sheet? [1] c) What does the current ratio tell us about a company? Calculate it using Balance sheet 1 on Moodle). Explain what this result tells us about the future of the business? [3]