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Required B: (4 marks) In your own words, please explain each of the above ratios? Current Ratio (I mark) Quick Ratio (1 mark) Debt to Equity Ratio (1 mark) Gross Profit Percentage (1 mark) fers a 12-month warranty on all its phones. OE estimates that one phone of each 200 cost OE S100. (10 marks) 0 sold will require warranty service and that the average warranty claim wil a) During 2018, OE sold 3,000,000 phones and no warranty work was performed. P ease prepare the journal entry for the year end December 31,2018 to recognize the warranty expense and warranty liability