2019 (Tk.) 2018 (Tk.) KAGOJ COMPANY December 31 Particulars Assets Cash Short-term investments Accounts receivable (net) Inventory Prepaid Advertisements Equipment Furniture 1,75,100 59,000 1.86,800 63,300 70,000 4,20,000 2,11,000 164,200 70,000 162,800 50,400 80,000 4,08,000 1,65,000 Total assets 11,85,200 11,00,400 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Salaries payable Notes payable Total current liabilities 1,00,000 59,500 64,500 1.25,300 62,000 1,00,700 2,24,000 2,88,000 Long term Liabilities Common stock (Tk. 10 par) Retained earnings 2,80,000 4,20,000 2,61.200 3,40,000 2.50,000 2.22,400 Total liabilities and stockholders' equity 11,85,200 11.00,400 Instructions: a) Compute the following ratios (by showing the formulas) for 2019: Current ratio, Quick (Acid-test) ratio, Debt to Assets ratio. [03] b) Comment on the current ratio of 2019 (computed above) for Kagoj company in the following situations: (02] (i) XYZ company is a competitor of Kagoj company. The current ratio of XYZ company for the year 2019 is 2.39:1. (ii) The industry average of current ratio for the year 2019 is 2.50:1