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From the given trial balance of Al-Ward Shop, prepare a

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From the given trial balance of Al-Ward Shop, prepare a. Income statement for the year 2021 (10 marks) b. Balance sheet for 31" December 2021 (20 marks) Al- Ward Shop Trial Balance 31" December 2020 Account Debit Credit Cash 15,000 33,500 1,000 30,700 200,000 7,700 3,000 17,800 11,700 7,500 18,330 Sale Revenue Inventory Account payable Land Intangible asset Prepaid marketing expense Interest payable Account Receivable Debenture Bond payable Wages payable Owner Drawing Purchase Consultation revenue Salary payable Common Stock Utility expenses Wages expenses Rent Revenue Total 3,300 4,000 12,600 17,500 16,400 101,300 4,330 2,000 15,000 261,330 261,330
Anonymous about 1 hour later Al-Ward Shop Income Statement for the year 2021 Amount Particulars Total Revenue Sale Revenue 33500 Rent Revenue 15000 Consultation revenue 17500 Total revenue (A) 66000 Expenses Purchases Utility expenses Wages Total Expeses (B) 12600 4330 2000 18930 Net Income (A-B) 47070 Statement of Retained Earnings for year ended 2021 Amount Partciulars ($) Opening Retained 0 Earinings Net Income earned during 47070 the year ended 2021 Divdend 0 Closing Retained earnings 47070
Al-Ward Shop Balance Sheet as on 31st Dec 2021 Assets Non Current Assets Land 200000 Intangible Asset 7700 Total Non current assets (A) 207700 Current Assets Inventory Cash Prepaid marketing expenses Accounts Receivable Total Current Assets (B) Total Assets (A+B) 1000 15000 3000 11700 30700 238400 Share Equity and Liabilities Share Equity and capital Common Stock Retained Earnings Owner Drawings Total Share Equity and capital (C) 101300 47070 -4000 144370 18330 7500 25830 Non Current Liabilities Bond Payable Debenture Total Non current liabilities (D) Current Liabilities Account payable Interest payable Wages payable Salary payable Total Current liabilities (E) 30700 17800 3300 16400 68200 Total Share equity and liabilities (C+D+E) 238400
4) Calculate the following ratios from balance sheet statement for any organization (which you can download from any GCC Security Market) for the last annual report (that includes all financial statement) (5 * 5 = 25) Current ratio • Debt ratio • Quick ratio • Equity multiplier • Debt to equity ratio 5) Interpret the results of the ratios and explain what does that mean to the performance of the organization. The answer you provided should be supported by relevant literature review including scientific journal, website and related books. (500 words) (20 marks)