mera EXERCISE annwer the quetion wtich follow ncome Sta s0,co tess Cost of goods sold opening inventory Add Purchase 02,000 0.000 300,000 165.3) 213 000820 000 Less closing inventory profi 420,000 Wages, salaries and commissian oeher expenses ,000 165000 45,05 35.0 30,00 Net profit Statements af financial position Nan-current asset Equipment at cost Less Depreclation to date 50,000 (4g.000) ,000$30000)70,000 60,000 125,000 100,000 Current aasets Inventory 70,000 100,000 Accounts recelvabe Bank 0012,500 182 500 25,0002 Total assets 252,500 Current liabilities 100 500) Accounts payable Net assets Financed byr Capitals 72,000 76,000 100,000 176,000 Balance at start of year Add Net profit 150 000 222,000 Less Drawing capital 116 000 Coluilate the follow ing ratios for each business mentage of sales (vi) current ratia test ratia