b. Compute the following ratios for Albar Enterprise for the year ended 30 June 2019. i. ii. iii. iv. Gross profit ratio Net profit ratio Current ratio Quick ratio Explain the ratios that have been calculated above. "1 The following is the statement of financial position of Albar Enterprise as at 30 June 2019. ALBAR ENTERPRISE Statement of Financial Position as at 30 June 2019 RM Non-Current Assets Current Assets Inventories 15,000 RM 170,200 Account receivables Cash at bank Prepaid rental Prepaid insurance Current Liabilities Account payable Accrued printing and stationery 1. Financed by: Capital Add: net profit 2. 37,000 40,000 800 700 30,000 2,000 93.500 263.700 206,700 25,000 Additional information: Cash sales and credit sales for the year ended 2019 were RM30,000 and RM70,000 respectively. Cost of goods sold was 55% of sales. 32,000 263.700