Items 31 to 33 are based on the following information: ABC Company asked you to interpret the following ratios provided by its accountant. Acid-test ratio 1.20 :1 Gross profit ratio 40% Debt to equity ratio 0.70:1 Inventory turnover 4x Times interest earned 6 Ratio of operating expenses to sales 30% Total shareholders' equity of December 31, 2019 was Php800,000. Gross profit was Php450,000. The beginning merchandise inventory was Php180,000. The company's long-term liabilities consisted of bonds payable with interest of 10%. You decide to reconstruct the financial statements based on the limited information given to serve as basis for further analysis. 31. How much is the non-current liabilities (bonds payable)? A. Php180,000 C. Php190,000 B. Php187,500 D. Php197,500 32. Based on the previous item, how much is the current liabilities? A. Php372,500 C. Php604,500 B. Php447,000 D. None 33. Based on the previous item, how much is the current assets? A. Php447,000 C. Php793,000 B. Php604,500 D. Php615,750