XYZ Inc. bought land and built its plant 10 years ago. Land is not depreciated. The depreciation on the building and plant is calculated using the straight-line method, with a life of 20 years and a salvage value of $1,500,000. 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 15%. Complete the Balance Sheet below and find: The value for the Total Assets = ? (4 point) The value for the Accounts Payable = ? (4 points) The value for the Acid-Test Ratio = ? (4 points) The value for the Return-on-Equity Ratio - ? (4 points) XYZ Industries Balance Sheet (as of June 30, 2019 Liabilities and Owners' Equity Current Assets Current Liabilities Cash 1,350,000 Accounts Payable Accounts Receivable 950,000 Notes Payable 100,000 Secunties 1,000,000 Accrued Expense $71 696 Inventories 1,100,000 Total Current Liabilities Prepaid Expenses 600.000 Total Current Assets Long Term Liabilities Mortgage 500,000 Long-Term Asset: Long-Term Debt 2,000,000 Land 1,500,000 Total Long Term Liabilities 2.500.000 Building and Plant 5.000.000 Les accumulated depreciation Owners' Equity (Net Worth) Preferred Shares 1,000,000 Equipment 5.000.000 Common Shares 4,000,000 Less accumulated depreciation Retained Eaming 1,500,000 Total Owners' Equity 6.500.000 Total Long-Term Assets Total Liabilities and Owners' Equity Total Assets Revenues Sales Cost of Goods Sold Gross Profit Income Statement for XYZ Industries July 1, 2018 - June 30, 2019 Expenses 9,500,000 Operating Expenses 4,950,000 Depreciation Expense 4.550,000 Interest Expense Total Expenses Net Income Before Taxes Income Taxes (26.5%) Net Income before extraordinary item Extraordinary Gain Net Income 950,019 246,981 350.000 1.547.000 3,003,000 795.795 2.207.205 300,000 2.507,205 Total Assets - 13,109,263. Total Assets = 12,930,980. Total Assets = 11,546,035. Total Assets = 10,734,372. Accounts Payable = 817,376. Accounts Payable - 959,000. Accounts Payable = 1,062,676. Accounts Payable = 1,137,567. Acid-Test Ratio - 1.5171 Acid-Test Ratio = 1.9027 Acid-Test Ratio = 2.8829 Acid-Test Ratio = 3.1134 Return-on-Equity Ratio - 0.3396 Return-on-Equity Ratio - 0.3857 Return-on-Equity Ratio = 0.4479 Return-on-Equity Ratio = 0.5414