please answer both questions -(don't have much questions left)-

$340,000 $250,100 $ 89,900 Seaforce Manufacturing Inc. Income Statement Year Ended December 31, 20x5 Sale Cost of goods sold Gross Profit Operating Expenses $55,000 Loss on Sale of equipment $ 2,500 Profit from Operations Other expenses Interest Expense Profit before Income Tax Income Tax Expense Profit $ 57,500 $ 32,400 $ 3,500 $ 28,900 $ 12,000 $ 16,900 Additional Information: 1. Operating expenses include depreciation expense of $10,000 2. Accounts Payable related to the purchase of inventory 3. Equipment that cost $12,500 was sold at a loss of $2,500 4. New equipment was purchased during the year for $8,500 5. Dividends declared and paid in 20x5 totalled $3,000 6. Common shares were sold for $12,000 cash 7. Interest payable in 20X5 was $800 greater than interest payable in 20X4 Seaforce Manufacturing Inc. comparative balance sheet at December 31 20X5 Cash Accounts Receivable Inventory Prepaid Expenses Equipment Accumulated Depreciation - equipment Total Assets 20x5 20X4 $ 6,450 $ 4,100 $ 72,000 $ 6,500 $110,250 $140,000 $1,750 $ 1,020 $ 96,000 $100,000 $(50,000) $ ( 42,000) $236,450 $209,620 Account Payable Interest Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity $ 16,230 $ 9,900 $ 810 $ 10 $ 10,800 $ 9,500 $ 1,800 $ 2,800 $ 55,000 $ 62,000 $135,000 $123,000 $ 16,310 $ 2,410 $236,450 $209,620 Round answers to fit 2 decimal places in all questions (in % questions a 0.12 is presented as 12%, so a 0.124 is rounded as 12% and 0.127 is rounded as 13%) The equity ratio at December 20X4 was: Multiple Choice Between 0.41 and 0.61 Equal or below 0.40 Not enough data provided to calculate it Between 0.62 and 1.67 Equal or above 1.68