Question 1: (5 points): LO2, LO3 Ramada has just completed its first year of operations ended December 31, 2021 Account Amounts Accounts payable 21.000 Accounts receivable 26,400 Cash 10,000 Delivery truck rent expense 14.400 Equipment 12.600 Equipment rental expense 5.800 Marketing expense 3,000 Owners' capital, beginning balance 4.000 Salaries expense 112.000 Booking revenue 164.000 Supplies 800 Salaries payable 1,400 Supplies expense X200 withdrawals 2.000 Instruction: Prepare income statement, statement of owners' equity and balance sheet. There were no investments during the year. Question 2: (5 points): LO4, LOS VAT is considered an indirect type of tax. The governments consider VAT as one of their revenue resources. In your opinion how the industry of hotels can be affected by the increase of tax from 5% to 10%. Support your answer with examples. Question 1: (5 points): LO2, LO3 Ramada has just completed its first year of operations ended December 31, 2021 Account Amounts Accounts payable 21.000 Accounts receivable 26,400 Cash 10,000 Delivery truck rent expense 14.400 Equipment 12.600 Equipment rental expense 5.800 Marketing expense 3,000 Owners' capital, beginning balance 4.000 Salaries expense 112.000 Booking revenue 164.000 Supplies 800 Salaries payable 1,400 Supplies expense X200 withdrawals 2.000 Instruction: Prepare income statement, statement of owners' equity and balance sheet. There were no investments during the year. Question 2: (5 points): LO4, LOS VAT is considered an indirect type of tax. The governments consider VAT as one of their revenue resources. In your opinion how the industry of hotels can be affected by the increase of tax from 5% to 10%. Support your answer with examples