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Question 2 The Balance Sheet of Lizzy's Luxuries Ltd. shows the following figures: Share capital Cash in hand and at Bank Fixed Assets Creditors 5%

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Question 2 The Balance Sheet of Lizzy's Luxuries Ltd. shows the following figures: Share capital Cash in hand and at Bank Fixed Assets Creditors 5% Debentures Bill Payables Debtors Inventory General reserve Profit and Loss A/c R152,000 R30,000 R113,000 R20,000 R24,000 R4,000 R18,000 R52,000 R8,000 R5,000 Calculate the following: a) Current Ratio (4) b) Asset Ratio (4)

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