Question 7 The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position 2020 $33,540 $97,680 273,910 203,500 626,080 476,190 2019 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Accounts payable Wages payable Income tax payable Unearned revenue Long-term bank loan payable Common shares Retained earnings 16,770 16,280 Property, plant, and equipment (net) 1,182,700 1,241,500 440,000 306,000 32,000 23,000 18,000 51,000 815,000 887,000 200,000 200,000 559,000 541,150 30,000 66,000 The company had sales of $1,835,197 in 2020 and $1,790,800 in 2019. All sales were on account. Your answer is partially correct. Try again Calculate the current ratio and quick ratio for Sindarius Ltd. for the current and preceding year. (Round ratios to 2 decimal places, e.g. 15.25.) 2020 2019 Current ratio 1.55 1.57 Quick ratio 1.08 1.19 Current ratio Worsened Quick ratio Worsened