$25.($i$)$ State the components of a balance sheet and define each component.

a$.$ Financial analysis is used to determine whether a given project merits the requested funding. Explain briefly the engineering economic analysis techniques used for the purpose.

b$.$ Explain the concepts of: $($a$)$ just$-$in$-$time $($JIT$)$ inventory control, $($b$)$ materials resource planning $($MRP$)$ and $($c$)$ manufacturing resource planning $($MRP II$).$