Question: can u pls briefly explain this in a simple language Sarah is planning to buy an existing dry-cleaning business Clean Choice. She has decided to

can u pls briefly explain this in a simple language can u pls briefly explain this in a simple
Sarah is planning to buy an existing dry-cleaning business "Clean Choice". She has decided to go through the company's main financial statements so she can better understand the company's financial situation. However, she is not too familiar with accounting, so she needs a bit of help. Help Sarah understand the financial statements and financial ratios, and explain: a) What information should Sarah look for in a balance sheet? b) The Total Owner's Equity in the company's balance sheet is $40,000. What does this number represent? c) What information should Sarah look for in an income statement? d) The final number on the company's income statement is $11,000. What does this number represent? e) Company's current ratios is 1.02. What does this number mean? f) Company's Return on Equity ratio is 30%. What does this number mean? Please answer all questions, one at a time. Each answer brings you max. five points. It is sufficient to write about 3-5 lines for each answer. Please put a letter before your answers below (a, b, c, d, e, f). Thank you

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