Question 3 Wonderland Bakery The balance sheet as at December 2020 is provided below: Assets: Current Assets: 20 marks December 31 2020 2019 Cash Accounts Receivable Inventory Other Current Assets Total Current Assets R 61,100 R54,000 22,500 17,500 8,500 7,000 6,500 5,500 98,600 84,000 Long-term Assets: Property, Plant & Equipment, net 744,900 25,000 Intangible Assets 211,250 225,000 Total Assets R1,054,750 R334,000 Liabilities and Shareholders' Equity Current Liabilities: Accounts Payable Interest Payable Current Portion of Long-Term Debt Income Tax Payable Total Current Liabilities Long-term Liabilities: R 5,500 R 4,500 500 500 15,000 0 18,500 23,000 R 39,500 R 28,000 Notes Payable Total Liabilities Shareholders' Equity Ordinary shares Additional Paid-in Capital 246,250 15,000 285,750 43,000 60,000 35,000 654,000 186,000 Retained Earnings 92,500 70,000 Treasury Shares (37,500) Total Shareholders Equity 769,000 291,000 Total Liabilities and Shareholders' Equity R1,054,750 R334,000 Required: 1.Calculate the following short-term liquidity ratios for 2020 and 2019 a) Current Ratio, (2) b) Quick Ratio, (2) c) Cash Ratio, and (2) d) Operating Cash Flow Ratio. (2) Cash flows from operations were R75,500 and R50,500 for 2020 and 2019, respectively. Round your answers to two decimal places. 33 33