Z-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. Z-TEC Industries Balance Sheet (as of June 30, 2020) Assets Liabilities and Owners' Equity Current Assets Current Liabilities Cash 1,000,000 Accounts Payable 950,000 Accounts Receivable 500,000 Notes Payable 150,000 Securities 1,000,000 Accrued Expense 350,000 Inventories 1,200,000 Total Current Liabilities Prepaid Expenses 300,000 Total Current Assets Long-Term Liabilities Mortgage 1,500,000 Long-Term Assets Long-Term Debt 300,000 Land 1,500,000 Total Long-Term Liabilities 1,800,000 Building and Plant 4,000,000 Less accumulated depreciation Owners' Equity (Net Worth) Preferred Shares Equipment 1,000,000 Common Shares 3,500,000 Less accumulated depreciation Retained Earnings 500,000 Total Owners' Equity Total Long-Term Assets Total Liabilities and Owners' Equity Total Assets Revenues Sales Cost of Goods Sold Gross Profit Income Statement for Z-TEC Industries (July 1, 2019 - June 30, 2020) Expenses 7,400,000 Operating Expenses 4,900,000 Depreciation Expense 2,500,000 Interest Expense Total Expenses Net Income Before Taxes Income Taxes (26.5%) Net Income before extraordinary item Extraordinary Gain Net Income 750,000 350,000 150,000 1,250,000 1,250,000 331,250 918,750 300,000 1,218,750 on Total Assets = 8,823,290. Total Assets = 9,090,490. Total Assets = 9,976,290. Total Assets = 10,350,490. Preferred Shares = 1,026,290. Preferred Shares = 1,159,230. Preferred Shares = 1,327,230. Preferred Shares = 1,840,490. Acid-Test Ratio = 2.759 Acid-Test Ratio = 1.724 Acid-Test Ratio = 1.835 Acid-Test Ratio = 1.395 Return-on Equity Ratio = 0.4361 Return-on Equity Ratio = 0.3140 Return-on Equity Ratio = 0.2087 Return-on Equity Ratio = 0.1573