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2. From the following information, Calculate A. Current Ratio, B. Quick Ratio particulars Amount (RO) Inventory 60000 Account Receivable 70000 Cash Balance 20000 Prepaid Expenses

2. From the following information, Calculate A. Current Ratio, B. Quick Ratio particulars Amount (RO) Inventory 60000 Account Receivable 70000 Cash Balance 20000 Prepaid Expenses 10000 Land and Building 100000 Gross profit 50000 Account Payable 20000 Bills (Notes) Payable 15000 Outstanding Expenses 25000 Bank Overdraft 25000 Common (Equity) Capital 75000 Net Sales 250000

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