1A. THE FOLLOWING DATA IS PRESENTED FOR ?SUNSHINE CORPORATION? FOR THE YEAR 2020. READ THE TABLE CAREFULLY AND ANSWER THE FOLLOWING QUESTIONS. CALCULATE THE CURRENT RATIO AND COMMENT ON YOUR FINDINGS.

1B. CONDUCT THE ACID TEST AND COMMENT ON YOUR FINDINGS.

1C. CALCULATE THE TOTAL DEBT TO ASSET RATIO AND COMMENT ON YOUR FINDINGS.

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NOTE: NET PROFIT AFTER TAX & INTEREST IS TERMED AS NPAIT WHICH IS THE SAME AS NPAT. ITEM YEAR 2020 REVENUE $300,000 $10,000 $5,000 $5,000 CASH ACCOUNTS RECEIVABLES INVENTORY $15,000 $100,000 $25,000 $85,000 $12,750 $8,500 CURRENT LIABILITES TOTAL ASSETS ТОTAL DEBT NPAIT TAXES TOTAL INTEREST EXPENSE NOTE: NET PROFIT AFTER TAX & INTEREST IS TERMED AS NPAIT WHICH IS THE SAME AS NPAT. ITEM YEAR 2020 REVENUE $300,000 $10,000 $5,000 $5,000 CASH ACCOUNTS RECEIVABLES INVENTORY $15,000 $100,000 $25,000 $85,000 $12,750 $8,500 CURRENT LIABILITES TOTAL ASSETS ТОTAL DEBT NPAIT TAXES TOTAL INTEREST EXPENSE