calculate quick ratio and return on equity

As at December 31 2020 2021 Assets Non-Current Assets: Patents Property, Plant and Equipment Less: Accumulated Depreciation Net Property, Plant and Equipment Land Long-Term Receivables Total Non-Current Assets $400,000.00 $400,000.00 $35,000,000.00 $41,000,000.00 $15,000,000.00 $11,000,000.00 $20,000,000.00 $30,000,000.00 $16,580,000.00 $19,580,000.00 $2,000,000.00 $2,000,000.00 $88,980,000.00 $103,980,000.00 Current Assets: Merchandise Inventory Trade Receivables Cash and Cash Equivalents Total Current Assets Total Assets $1,256,000.00 $1,450,000.00 $895,000.00 $456,800.00 $23,145,000.00 $24,420,000.00 $25,296,000.00 $26,326,800.00 $114,276,000.00 $130,306,800.00 Liabilities and Shareholders' Equity Liabilities Non-Current Liabilities Long-Term Bonds Payable Total Non-Current Liabilities $14,500,000.00 $13,500,000.00 $13,500,000.00 $14,500,000.00 Liabilities Non-Current Liabilities Long-Term Bonds Payable Total Non-Current Liabilities Current Liabilities $13,500,000.00 $14,500,000.00 $14,500,000.00 $13,500,000.00 Short-Term Loans Accounts Payable Total Current Liabilities $11,250,000.00 $1,254,000.00 $12,504,000.00 $27,004,000.00 $11,150,000.00 $4,912,478,00 $16,062,478.00 $29,562,478,00 Total Liabilities Shareholders' Equity Share Capital Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $65,000,000,00 865,060,000.00 $22,272,000.00 $35,744,322,00 $87,272,000.00 $100,744,322,00 $114,276,000.00 $130,306,800.00 In 2021 Terrible Mitchell Limited recorded net income of $3,501,000. Required: (a) Calculate for 2021 the: Quick Ratio. IL Return on Equity (b) During your comprehensive investigation of Terrible Mitchell Limited you find $10,000,000 of the short-term loans in 2020 and 2021 was actually convertible debt. Based on your interpretation of standard industry practice and accounting regulations this convertible debt should be classified as equity. Recalculate - where applicable - the quick ratio and return on equity incorporating