W-TEC Inc. bought land and built its plant 5 years ago. Land is not depreciated. The depreciation on the building and plant is calculated using the straight-line method, with a life of 15 years and a salvage value of $1,000,000. The depreciation for the equipment, all of which was purchased at the same time the plant was constructed, is calculated using declining-balance method with depreciation rate of 10%. Complete the Balance Sheet below and find: The value for the Total Assets = ? (3 point) The value for the Preferred Shares = ? (3 points) The value for the Acid-Test Ratio = ? (3 points) The value for the Return-on-Equity Ratio = ? (3 points) Note: This is a MULTIPLE-ANSWER problem, you have to select one correct answer for each of the above 4 questions. W-TEC Industries Balance Sheet (of June 30, 2020 Assets Liabilities and Owners' Equity Current Assets Current Liabilities Cash 1,500,000 Accounts Payable 650.000 Accounts Receivable 500.000 Notes Payable 700.000 Securities 1.000.000 Acred Expense 300.000 Tnventus 1,200.000 Total Current Liabilities Preparid Expenses E 800.000 Tocal Current Assets Long Term Liabilities Munty 2.500.000 Long-Term Axst LimeTam Dehi 100 000 Land 1,500,000 Tocal Long Term Liabilities 2,500,000 Building and Plant 2.300.000 Less accumulated depreciate Owners' Equity (Net Worth) Preferred Shares Fje 2 500 000 Com Shares 3.50000 Less accumulated depreciatica Retained Laminas 300.000 Tocal UTS' Equity Total Lan-Turm Act Total Liabilities and Owners' Equity Tocal Assets Income Statement for W TEC Industries (July 1, 2019 - June 30, 2020) Revenues Expenses 5,100,000 Operating Experts S50,00 Cost of Goods Sold 2.000.000 Depreciation Expense 350.000 Gross Profit 2.500.000 Interest Expense 150.000 Total Expenses 1,050,000 Net Income Before Tanes 1450,000 Income Taxes (26.5%) 384,250 Net Income before extraordinary item 1,065,750 Extraordinary Gain 400,000 Net income 1,465,750 Total Assets = 9,476,225. = Total Assets = 9,976,225. Total Assets = 10,177,230 Total Assets = 11,350,230. Preferred Shares = 1,026,225. Preferred Shares = 1,126,225. Preferred Shares = 1,327,230. Preferred Shares = 1,527,230. . Acid-Test Ratio = 2.326 Acid-Test Ratio = 1.395 Acid-Test Ratio = 1.108 Acid-Test Ratio = 0.835 Return-on Equity Ratio = 0.3962 - Return-on Equity Ratio = 0.2916 Return-on Equity Ratio = 0.2120 Return-on Equity Ratio = 0.1801