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PART C (2 questions-22 Total marks) 1, TSS Inc has the following account balances on December 31, 2017: December 31,2017 Debit Credit Cash 300,000 Short term investments 1,000,000 400,000 20,000 400,000 900,000 Accounts receivable Prepaid expenses Land Building, at cost Building, accumulated depreciation Accounts payable Income tax payable Current portion of long-term debt 250,000 150,000 30,000 60,000 350,000 200,000 Long-term debt Preferred shares Common shares 1,000 Retained earnings, beginning of year Sales Cost of goods sold 2.132,000 ,600,000 Depreciation expense 100,000 280,000 73,000 Income tax expense Required A: (8 marks) Calculate the following (two decimal places and show calculations for part 1. Current Ratio 2017 (2 marks) marks) 2. Quick ratio at December 31, 2017 (2 marks) Debt to equity ratio at December 31, 2017 (2 marks) iross Profit Percentage at December 31, 2017 (2 marks)