Question: Can help me to find the current ratio, quick asset ratio and gearing ratio? Thank you You are given below. in draft form, the financial

Can help me to find the current ratio, quick asset ratio and gearing ratio? Thank you Can help me to find the current ratio, quick asset ratio and

You are given below. in draft form, the financial statements of Algemon Lid for 20x8 ond 2009. They are not in publishable format Statenents of Financial Position 20x8 Depn Net 2 E 2 Cost Deon Cost E 20x9 Net E ASSETS Plant Building 48,000 83,202 136,000 7,800 13,800 21,600 49,000 128,000 177,000 8,600 14,800 23,600 40,286 74,200 114,488 88,000 12,600 93,888 78,00 41,908 427,000 40,200 113,282 153,490 118,000 101,000 103,00 88,000 563,480 Financial assets Land Inventory Trade receivables Bank Total assets EQUITY AND LIABILITIES Equity shares El each Share premium Revalvation reserve Retained earnings 12% debentures Trade payables Bank 78,000 50,000 83,000 138,090 73.000 37,000 52,000 58,000 83,000 188,000 103,480 42,000 563,480 427,800 Statements of Profit and Loss 28X8 Sales revenue 388,300 Cost of sales (195,880) Gross profit 193,880 Expenses (98,888 Profit for the year 95,888 20x9 f 242,800 (130,000) 112,000 (86,000) 26,880 Assumptions: 1. The investments are short-term and thus current assets. Alternatively it could be assumed thet they are long-term trade investments and thus non-current assets 2. The bank overdraft is temporary and thus a current liability. 3. The expenses include debenture Interest, there were no issues or repayment of debentures during 20x8, and the issue of debentures during 20x9 was on 1 January 20X9. The debenture interest is thus: 20x8 12%*138.000 = 16,560 20x9 12% * 188,000 = 22,560

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