1-Giving the following balance sheet for ABC CO, CALCULATE THE FOLLOWING . LIQUIDITY RATIO CALCULATE FROM THE FOLLOWING BS THE ASSETS TURNOVER KNOWING THAT THE TOTAL SALES ARE $1,500,000 ASSETS Current assets Cash and cash equivalents Accounts receivable Inventory Prepaid expense Investments Total current assets Property and equipment Land Buildings and improvements Equipment Less accumulated depreciation Other assets Intangible assets Less accumulated amortization BALANCE SHEET December 31, 2100 LIABILITIES AND SHAREHOLDERS' EQUITY Current abilities $ 100,000 Accounts payable $ 30,000 20,000 Notes payable 10,000 15,000 Accrued expenses 5,000 4,000 Deferred revenue 2000 10,000 Total current liabilities 47000 149,000 Long-term debe 200.000 24,300 Total liabilities 247.000 250,000 50,000 Shareholders' Equity Common stock 10,000 (5,000) Additional paid-in capital 20,000 Retained earnings 197.100 Treasury stock (2,000) 4,000 (200) Total liabilities and shareholders' equily $472,100 472,100 Total assets