Illustration 50 Following is the Balance Sheet of M/s Sure Success Ltd as on 31st March, 2018, Balance Sheet of M/s Sure Success Ltd. as at 31st March, 2018 Note No. (2) Amount R) (3) 5,00.000 5,00.000 2,00.000 40,000 2,50,000 4,00.000 30,000 Particulars (1) 1. EQUITY AND LIABILITIES (1) Shareholders' Funds: ' (a) Share Capital - Equity Share of 10 each fuly paid 12% Preference Shares of 10 each fully paid (b) Reserves and Surplus - General Reserve Profit and Loss Account (2) Share Application Money Pending Allotment: (3) Non-current Liabilities (a) Long-term Borrowings - 12% Debentures (4) Current Liabilities: (a) Trade Payables : Trade Creditors Bills Payable (b) Short-term Provisions : Provision for Tax Proposed Dividend (c) Other Current Liabilities : Outstanding Expenses TOTAL IL ASSETS (1) Non-current Assets (a) Fixed Assets 0 Tangible Assets Land and Buildings Plant and Machinery Furniture () Intangible Assets : Goodwill (2) Current Assets : (a) Inventories (b) Trade Receivables: Debtors Bills Receivable (C) Cash and Cash Equivalents : Cash at Bank (d) Other Current Assets: Prepaid Expenses TOTAL 2,00,000 1,00,000 20,000 22.40,000 e38 1,10,000 4,50.000 80,000 1,00,000 7,50,000 6,00.000 40.000 1,00,000 10,000 22,40,000 The net sales were 30,00,000 for the year whereas gross sales were 30,30,000. From the above particulars, calculate the following ratios : (1) Current Ratio: (i) Liquid Ratio; (iii) Debt-Equity Ratio; and (iv) Working Capital Turnover Ratio