Question 3 30 marks Use the following information to answer questions 3.1 and 3.2 Rush & Reddy Pty Ltd The balance sheet taken from the companys year-end financials is provided below: Assets Dec-31 2015 R Dec-31 2014 R Dec-31 2013 R Current Assets Cash 122,200 108,000 Accounts Receivable 45,000 35,000 37,000 Inventory 17,000 14,000 13,000 Other Current Assets 13,000 11,000 Total Current Assets 197,200 168,000 50,000 Long-term Assets Property, Plant & Equipment, net 1,489,800 50,000 Intangible Assets 422,500 450,000 Total Assets 2,109,500 668,000 Liabilities and Stockholders' Equity Dec-31 2015 R Dec-31 2014 R Dec-31 2013 R Current Liabilities Accounts Payable 11,000 9,000 Interest Payable 1,000 1,000 Current Portion of Long-Term Debt 30,000 0 Income Tax Payable 37,000 46,000 Total Current Liabilities 79,000 56,000 Long-term Liabilities Notes Payable 492,500 30,000 Total Liabilities 571,500 86,000 Stockholders' Equity Common Stock 120,000 70,000 Additional Paid-in Capital 1,308,000 372,000 Retained Earnings 185,000 140,000 Treasury Stock -75,000 0 Total Stockholders' Equity 1,538,000 582,000 575000 Total Liabilities and Stockholders' Equity 2,109,500 668,000 Required: Question 3 3.1 (20 marks) Prepare a common size balance sheet to be used in vertical analysis. 3.2 (10 marks) Calculate the following short-term liquidity ratios for 2015 and 2014: 3.2.1 Current Ratio (2) 3.2.2 Quick Ratio (2) 3.2.3 Cash Ratio (2) 3.2.4 Operating Cash Flow Ratio (2) Cash flows from operations were R151,000 and R101,000. For 2015 and 2014, respectively. Round your answers to two decimal places. Comment on the Companys short-term liquidity