Question 7 (20 Marks) Presented below is the adjusted trial balance of Taylor Investment Advisers as at 30 June 2021. Taylor Investment Advisers Trial Balance As at 30 June 2021 Debit $ Credit $ 32,000 Cash at Bank Accounts Receivable 6,500 1,500 Office Supplies Prepaid Rent 5,000 145,000 Equipment Accumulated Depreciation - Equipment Accounts Payable Salary Payable Interest Payable 1,250 20,500 2,250 250 Revenue received in advance 4000 100,000 30,000 2,500 44,000 Bank loan (5 Years) Taylor's, Capital Taylor's Drawings Service Revenue Rent Expense Salary Expense Supplies Expense Depreciation Expense - Equipment Interest Expense 3,500 4,500 250 1,250 250 202,250 202,250 Part B (10 Marks) Myfoodz is a famous fresh ready-made meals business that operates in many suburbs in New South Wees. The seling price of a ready-made meal is $12. it is estimated that the company will incur a variable cost of $285,000 to make and deliver 32,000 meals (estimated production and sales. The company's estimated fixed cost is 545,000 Required You are required to calculate the following. Show all calculations a) What Myfoods contribution margin ratio? (2 Marks) b) Calculate Myfoodzs break-even point in units meais) 2 Marks) Calculate Mytoodz's break-even point in sales dolors (1 Mark) o What is Myfoodzs margin of safety ratio? (Round of the answer to the nearest 2 decimal placeat (1 Mark) ft) How can managers of Myfood use this margin of safety ratio information to manage the profitability of the business? C2 Marks) How many meals must the company sell to earn a target profit of 90000 (2 Marks) Part A Part 8