Question 9 The assets of SONA Ltd. consist of fixed assets and current assets, while its current liabilities comprise bank credit in the ratio of 2 : 1. You are required to prepare the Balance Sheet of the company as on 31st March 2016 with the help of following information: Share Capital 5,75,000 Working Capital (CA-CL) 1,50,000 Gross Margin 25% Inventory Turnover 5 times Average Collection Period 1.5 months Current Ratio 1.5:1 Quick Ratio 0.8: 1 Reserves & Surplus to Bank & Cash 4 times Assume 360 days in a year