QUESTION 7 Using the list of items from the KBC Balance Sheet and Income Statement, calculate the values for the following ratios. Current Assets: $200,000 Current Liabilities: $40,000 Inventories: $115,000 Total Liabilities: $275,000 Owners' Equity $575,000 What is KBC's Current Ratio? Cost of Goods Sold: $1,000,000 Cash: $45,000 Income Before Taxes: $50,000 Total Assets: $900,000 QUESTION 8 Using the list of items from the KBC Balance Sheet and Income Statement, calculate the values for the following ratios. Current Assets $200,000 Current Liabilities: $40,000 Inventories: $115,000 Total Liabilities: $275,000 Owners' Equity: $575,000 What is KBC's Acid Test Ratio? Cost of Goods Sold: $1,000,000 Cash: $45,000 Income Before Taxes: $50,000 Total Assets: $900,000