Question 1 [20 Marks] A skeleton of Athol Country Florists balance sheet appears as follows (amounts in thousands): Balance Sheet (Statement of financial position) Cash R85 Total current liabilities R1 900 Receivables a) Longterm debt e) Inventories R762 Other longterm liabilities R720 Prepaid expenses b) Total current assets c) PPE d) Share capital R185 Other assets R2 100 Retained earnings R3 465 Total assets R7 300 Total liabilities and equity f) Use the following ratio data to complete Athol Country Florists balance sheet: a) Debt ratio is 0.50 b) Current ratio is 1.30 c) Acid-test ratio is 0.40

A skeleton of Athol Country Florists balance sheet appears as follows (amounts in thousands): Balance Sheet (Statement of financial position) Use the following ratio data to complete Athol Country Florist's balance sheet: a) Debt ratio is 0.50 b) Current ratio is 1.30 c) Acid-test ratio is 0.40