PROBLEM18 Prepare Balance Sheet and Profit & Loss Account from the following information : 4,00,000 Capital 1,80,000 Working Capital 30,000 Bank Overdraft There is no fictitious asset. In current assets there are no assets other than stock, debtors and cash. Closing stock is 20% higher than opening stock. 2.5 (1) Current Ratio 2 (2) Quick Ratio 0.6 (3) Proprietary Ratio (Fixed Asset : Proprietary Fund] 20% (to sales) (4) Gross Profit Ratio 5 (5) Stock Velocity 73 days (6) Debtors Velocity 10% (7) Net Profit Ratio (To average capital employed)