please solve this with step by step procedures thanks!! The B Co. had the following data as at Dec 31, 20-7:

Current ratio : 2.75 to 1

Debt Ratio : 50.5%

Ratio of stockholders equity to Current assets: 90%

Additional data: Of the total current liabilities, 10% is covered by a noninterest-bearing note issued to trade creditors, the balance represents purchases on account. Cash was 25% of inventories, accounts receivables (net) was 1.5 times value of inventories, the allowance for doubtful accounts is 10% of outstanding accounts receivables. The company has 10,000 common shares outstanding originally at par of P 100.00, but with only P 99.00 book value per share. The Company has working capital of P 400,000

P 700,000

P 1,100,000