Loji Co. has current assets of Rs. 80,000 and total assets of Rs. 160,000. Loji Co. has current liabilities of Rs. 68,000 and total liabilities of Rs. 105,000. Calculate Loji Cos long-term liabilities and give a reasonable argument by showing your working

Loji Co has current assets of Rs. 80,000 and total assets of Rs. 160,000. Loji Co. has current liabilities of Rs. 68,000 and total liabilities of Rs, 105,000. Calculate Loji Co's long-term liabilities and give a reasonable argument by showing your working. "For a merchandiser, sales less operating expenses is called gross profit". Identify if the above statement is true or false. If false indicate how to correct it. *Measuring net income for a merchandiser is conceptually the same as for a service company". Identify if the above statement is true or false. If false indicate how to correct it