Constructing Balance Sheets and Interpreting Liquidity Measures The following balance sheet data are reported for Bettis Contractors at June 30, 2015. Assume that during the next two days only the following three transactions occurred: July 1 Paid $20,000 cash toward the notes payable owed. July 2 Purchased equipment for $40,000, paying $8,000 cash and an $32,000 note payable for the remaining balance. July 2 Declared and paid a $22,000 cash dividend. a. and b. Prepare a balance sheet at June 30, 2015 and July 2, 2015. c. Calculate its current and quick ratios at June 30, 2015. (Notes Payable is a noncurrent liability.) Round to two decimal places. Current ratio Quick ratio