in case utilized Q2. The following is the summarized transactions and Profit and Loss Account for the year ending March 31, 2007 and the Balance Sheet as on that date. Expenses/Losses Amount (2) Revenue/Gains Opening Stock 5,000 Sales Purchases 25,000 Closing Stock Amount (2) 50,000 7,500 Direct Expenses 2,500 Gross Profit 25,000 57,500 57,500 Administrative Expenses 7,500 Gross Profit 25,000 Interest 1,500 Selling Expenses 6,000 Net Profit 10,000 25,000 25,000 Balance sheet: Liabilities Amount (*) Assets Amount (R) Share Capital 50,000 Land and Building 25,000 Current Liabilities 20,000 Plant and Machinery 15,000 Profit and Loss 10,000 Stock 7,500 Sundry Debtors 7,500 Bills Receivables 6,250 Cash in Hand and at Bank 8,750 Furniture 10,000 80,000 80,000 Calculate (i) Gross Profit Ratio (ii) Current Ratio (iii) Acid Test Ratio (iv) Stock Turnover Ratio (v) Fixed Assets Turnover Ratio. [10 Marks]