Question 2 (6 points) Given the balance sheet in the following table, calculate the following ratios: (a) Current ratio (b) Quick ratio (c) Debt-equity ratio $389.927.04 16,629.39 Assets (a) Current assets Cash on hand and on deposit Notes receivable, current Accounts receivable, including retainage of $265,686.39 Deposits and miscellaneous receivables Inventory-construction material Prepaid expenses Total 1,222,346.26 15,867.80 26,530.14 8,490.68 1,679,791.31 $306,820.29 713,991.66 50,559.69 2,838.60 97,816.66 1,171,826.90 Liabilities (1) Current liabilities Accounts payable Due subcontractors Accrued expenses and taxes Equipment contracts, current Provision for income taxes Total (g) Deferred credits Income billed on jobs in progress at 31 December 19X4 Costs incurred to 31 December 1984 on uncompleted jobs Total current liabilities Equipment contracts, non-current (h) Total liabilities 2,728,331.36 12,777.97 (b) Notes receivable, non-current (c) Property Buildings Construction equipment Motor vehicles Office furniture and equipment Total (d) Less accumulated depreciation Net property (e) Total assets 2,718,738.01 9,593.35 1,181,420.25 7,477.72 1,188,897.97 5,244.50 188,289.80 37,576.04 13,596.18 244,706.52 102,722.51 141,984.01 Net worth (1) Common stock, 4,610 shares Retained earnings (O) Total net worth (k) Total liabilities and net worth 461,000.00 184,655.32 645,655.32 1,834,553.29 1,834,553.29