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2 15 Marks) Given below is the balance sheet of Goodluck Enterprises for the year 31 December 2018. Equity and Liabilities Shareholders' Equity Owner's Equity

2 15 Marks) Given below is the balance sheet of Goodluck Enterprises for the year 31 December 2018. Equity and Liabilities Shareholders' Equity Owner's Equity Reserves & Surplus Non-Current Liabilities Mortgage 1000,000 200,000 50,000 Debenture 150,000 Current Liabilities 100,000 Account Payable 30,000 Overdraft 10,000 Accrued Expenses 2,000 Unearned Revenue 8.000 50,000 14,00,000 Assets Current Assets Inventories 150,000 Trade receivables 50,000 Cash and cash equivalents 100,000 300,000 Non-Current Assets Tangible Assets 11,00,000 14,00,000 Information related to the operation of the Business. Sales Revenue 420,000 Cost of Goods Sold 170,000 Operating Expenses 100,000 Depreciation 30,000 a) Quick Ratio [1] b) Return on Assets Ratio [2] c) Return on Equity Ratio [2]

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