ABC LM has applied for a loan from a bank for its expansion programme. The company has submitted the following financial statements to the bank Total current liabilities 545,000 Total Liabilities 4.195,000 Stockholder's equity Common share Retained earnings Total stockholders' equity 2.300,000 305,000 2.605,000 Total abilities and stockholders' equity 6,800,000 $ ABC Ltd Statement of Financial Position as at 31December 2013 ASSETS Fixed asset Neted assel 5.250,000 ABC LM Income Statement for Year ending 31 December 2013 (5) Current asset Sales revenue 3,050,000 950,000 Less Cost of goods sold (1,000,000) Account receivable 200,000 Gross profit 2,050,000 Cash 400,000 Less Operating expenses (1,525,000) Total current asset 1.550,000 Operating profit 525,000 Total Assets 6,800,000 Less Interest expenses (300,000) Net profit before taxes 225,000 Less Taxes (78,000) LIABILITIES AND EQUITY Non-current Sabies det Net profit after taxes 147,000 3,650,000 Current abilities 275,000 175.000 Other current Sabes 95.000 Based on the information above, calculat Current rate A Quick ro 105 mak 105 mark (0.5 mark Activate Windows, Inventory iow AME SEEP MANAGERAL ECONOMIC Go to Settings to activate Win